UNI Higher, DOGE in Red on Saturday – Market Updates Bitcoin News
Uniswap was in the green to start the weekend, despite cryptocurrency markets largely consolidating. The token bounced back from losses on Friday, moving closer to a key resistance level in the process. Dogecoin, on the other hand, fell lower on Saturday as traders tried to find a stable support point.
Uniswap (UNI)
Uniswap (UNI) was one of Saturday’s notable movers as prices rebounded from the previous day’s decline.
After sinking to a low of $6.10 on Friday, UNI/USD recovered marginally, climbing to a high of $6.27 in the process.
As a result, the token moved closer to a key resistance level of $6.35, which was last hit on December 5.
To recapture this point, UNI bulls must first rise above a ceiling of 56.70 on the Relative Strength Index (RSI).
Currently, the index is tracking at a level of 54.75, which has contributed to the current market volatility, with traders unsure whether to maintain previous positions.
However, should we see price strength rise beyond the aforementioned resistance at 56.70, then it is possible that UNI bulls could send prices towards the $7.00 mark.
Dogecoin (DOGE)
Dogecoin (DOGE), on the other hand, remained in the red, following a failed breakout of a key resistance point on Friday.
After a move to a high of $0.09858 yesterday, DOGE/USD fell to an intraday low of $0.096 on Saturday.
The move comes as the meme coin failed to rise past the $0.0990 ceiling during Friday’s session.
Looking at the chart, this resistance point coincides with another ceiling – that of the RSI.
At the time of writing, the index follows 51.96, which is marginally below a ceiling of 53.00.
Should we see this wall breached, it is likely that the meme coin could move back towards the $0.1000 region.
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Do you expect dogecoin prices to bounce back this weekend? Let us know your thoughts in the comments.
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