Chainlink and Uniswap technical analysis suggest bulls. Accordingly, UNI/USDT and LINK/USDT prices may race to $58 and $54, respectively, in a buy trend continuation pattern set in motion by Q1 2021 gains.
Uniswap (UNI)
A few protocols, including Uniswap, define Defi. Uniswap is synonymous with trustless trading. Its native token is UNI, the subject of today’s review.
Past Performance of UNI
From the UNI technical analysis and candlestick arrangement, buyers are ecstatic and loading up the coin.
The UNI/USDT price is charting higher in the daily chart, adding 12 percent on the last day and pushing weekly gains to 24 percent.
It has outperformed BTC and ETH during the same period.
Days-Ahead and what to Expect
Solid fundamentals drive UNI/USDT.
As of writing, the UNI/USDT price is below $40 but within a $5 range with caps at $35 and $40.
Price action skirts at around 2021 highs with odds of a bullish breakout highly likely judging from candlestick arrangement and factoring in fundamental triggers.
Notably, trading volumes are surging higher in anticipation of a bullish breakout and race to new 2021 highs.
On the last day, UNI’s liquidity is optimum at around $1.69 billion, decent liquidity.
UNI/USDT Price Forecast
The path of the least resistance is northwards.
UNI bulls are in the driving seat.
In expectations of Uniswap v3, a close above $40 could trigger an influx of bulls driving UNI/USDT towards $58—the 1.618 Fibonacci extension level of the Q1 2021 trade range.
Chainlink (LINK)
Chainlink is known for Oracles and making DeFi a reality. LINK is the protocol’s primary token.
Past Performance of LINK
Traders are optimistic about the token’s performance as we advance.
On the last trading day, the LINK/USDT price is within a $3 zone with intra-day support and resistance at $33 and $36, respectively.
At the same time, participation level—albeit a recovery and confidence, has tapered, shrinking six percent to $1 billion.
Day-Ahead and What to Expect
LINK technical analysis suggests buyers and confidence.
As of writing, LINK is trading at $35, adding four percent on the last day and marginal gains versus BTC and ETH.
Week-to-date, LINK bulls are struggling with bears and haven’t pared losses as price action on the daily chart reveals.
LINK/USDT Technical Analysis
Overly, the crypto market is upbeat. However, zooming into the LINK/USDT chart, buyers haven’t comprehensively broken above key resistance levels.
A close above $35—Feb 2021 highs–may force aggressive LINK traders into action.
Their immediate target would be Apr 2021 highs of $45 and later $54—the 1.618 Fibonacci extension level of the Q1 2021 trade range.
