It’s easy to get caught up in the big moves of individual cryptos, but over the past 30 days there’s been a sort of hidden rally in cryptocurrencies focused in the DeFi sector. 👁️🗨️
Let’s take a look at a couple of those charts.
Uniswap
$UNI is up 12.92% over the past 30 days.
Uniswap’s weekly chart, compared to other altcoins that have made big moves (like Solana or Chainlink), is still lagging by a big amount. It only just crossed and closed above the weekly Tenkan-Sen.
Near-term resistance: $5.13
Near-term support: $4.37
Cardano
$ADA‘s three-week run has been impressive. It’s up +31%.
Unless something drastic happens between today and Sunday evening (which is very likely, as weekends are notorious for volatility), Cardano will close above its weekly Kijun-Sen for the first time since the last week of May 2023.
Like, Uniswap, Cardano remains below the Cloud. The last time Cardano had a weekly close above the Cloud was November 22, 2021 – almost exactly two years ago.
But Cardano’s run might take a pause soon as its weekly RSI is right up against its bear market resistance level of 55. Then again, ADA’s been down for so long that it might just be getting started.
Near-term resistance: $0.38
Near-term support: $0.308 – $0.31