UNI Higher, DOGE in Red on Saturday – Market Updates Bitcoin News
Uniswap was in the green to start the weekend, despite cryptocurrency markets mostly consolidating. The token rebounded from losses suffered on Friday, moving closer to a key resistance level in the process. Dogecoin, on the other hand, fell lower on Saturday as traders attempted to find a stable point of support.
Uniswap (UNI) was one of Saturday’s notable movers, as prices rebounded from declines suffered the day prior.
After sinking to a bottom of $6.10 on Friday, UNI/USD marginally rebounded, climbing to a high of $6.27 in the process.
As a result of this, the token moved closer to a key resistance level of $6.35, which was last hit December 5.
In order to recapture this point, UNI bulls will first need to rise beyond 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 if they should maintain previous positions.
However, should we see price strength surge beyond the aforementioned resistance at 56.70, then it is possible that UNI bulls could send prices towards the $7.00 mark.
Dogecoin (DOGE) on the other hand remained in the red, following a failed breakout of a key resistance point on Friday.
Following a move to a high of $0.09858 yesterday, DOGE/USD dropped to an intraday low of $0.096 on Saturday.
The move comes as the meme coin was unable to surge past its ceiling of $0.0990 during Friday’s session.
Looking at the chart, this point of resistance coincides with another ceiling — that of the RSI.
As of writing, the index is currently tracking at 51.96, which is marginally below a ceiling of 53.00.
Should we see this wall broken, it is likely that the meme coin could head back towards the $0.1000 region.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect dogecoin prices to rebound this weekend? Let us know your thoughts in the comments.
Image Credits: Shutterstock, Pixabay, Wiki Commons, rafapress / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.