While the market displays its volatile nature, price tides slightly swayed to favor bullishness. As a result, Tron and Uniswap hover in the green regions within the last four days. That came after the altcoins touched their monthly lows on November 28.
Uniswap (UNI)
UNI joined the overall market rally in October, surging in an upward channel. After rallying 59% from its September 26 lows, the altcoin touched its 2-month peak on November 10. After that, a broad market crash had bulls failing to keep momentum, and UNI lost more than a third of its price, hitting a 2-month low on November 28.
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However, the altcoin witnessed restoration from its 4-month long footing at $18.3. With that, the altcoin broke from a falling wedge, gaining more than 15% within the last four days.
For now, UNI bulls secured massive support near $20.4. They had to step with the strength to retest the prevailing resistance to crack the $23.2-level. While publishing this article, the altcoin hovered at $22.34. The Relative Strength Index remained on an upward trend and favored bullishness. Nevertheless, the ADX flashed a feeble directional move.
Tron (TRX)
Tron had a more than 54% 46-day ROI amid its late September upswing. As a result, TRX hit its 6-month high on November 15. Nevertheless, bears displayed commitments around the $0.11-level over the last six months. That way, the altcoin reentered its trend following a more than 30% 12-day drop, hitting its 1-month low on November 28.
TRX bulls have ensured a 2-monthlong footing at $0.089 to avoid further losses. After the price action and Relative Strength Index experienced a bullish divergence, Tron bounced from the abovementioned support following a broadening descending wedge formation.
While writing this article, TRX hovered around the $0.09618 level. The Relative Strength Index tried a revival but failed to cross past the half-line. Nevertheless, the bearish divergence by price action and the RSI can mean a short-term bullish hindrance. However, ADX flashed weak directional trends.
What are your thoughts on the altcoin market at the moment? Should we expect upsurges? Feel free to leave a reply in the comment area below.
