Solana (SOL) and Uniswap (UNI) Technical Analysis: Prices Freefalling
Table of contents
Solana (SOL)
The high throughput and scalable Ethereum competitor uses SOL as the primary currency.
Past Performance of SOL
The Solana is, as expected, solid, soaking selling pressure.
From the SOL technical analysis of the daily chart, it seems like buyers are taming rapacious sellers and caging SOLUSDT price action.
Day-Ahead and what to Expect
From the daily chart, the short-term trend favors Solana token sellers.
However, this is only natural considering the sharp gains of SOL crypto prices in the past few months.
At present, SOL prices are solid above $180 following the contraction from all-time highs of around $260.
Provided SOLUSDT prices trend inside this $80 zone, buyers are in control.
Solana Technical Analysis
Solana wasn't spared the coldness of over the weekend.
Still, SOL coin prices are within an $80 zone above the primary support at $180. Even though buyers are optimistic, sentiment is bearish.
Therefore, while there could be an expansion back to all-time highs, a contraction below the floor at $180 may force further losses to $130—the 61.8 percent Fibonacci retracement of the H2 2021 trade range.
Uniswap (UNI)
The world's largest DEX on Ethereum uses UNI for governance.
Past Performance of UNI
Uniswap token prices are struggling, presently sinking under the weight of sellers are visible in the daily chart. As it is, the Uniswap coin may sink deeper unless there is a swift shift in sentiment.
Day-Ahead and what to Expect
The DEX's fundamentals might be solid, but UNIUSDT price action is relatively weak.
The break below $18—the minor support line now resistance—on December 4 signaled a change in trend.
Besides, it confirmed the double bar reversal trend from the middle BB. Therefore, on pullback inside December 4 bear bar and below $18, aggressive sellers might look to swing the trend.
Uniswap Technical Analysis
With UNI coin buyers struggling to contain rampant sellers, the downtrend has been confirmed and cemented.
Already, the UNIUSDT swing low is with high trading volumes pointing to high momentum.
As such, with UNI bear bars aligning with the lower BB and below $18, sellers may trade with the trend, unloading on every attempt higher targeting $15—a multi-month support line marking Q3 2021 low.