Uniswap was back in the green on Monday as the token rebounded from two days of consecutive declines. The move saw prices climb towards a resistance level of $6.70, in place since late August. Maker was also in the green, climbing nearly 5% in today’s session.
Uniswap (UNI)
Uniswap (UNI) was a notable mover on Monday as the token rebounded from a string of consecutive declines.
After a low of $6.21 on Sunday, UNI/USD hit an intraday high of $6.53 earlier in today’s session.
The move saw uniswap close in on a key resistance point of $6.70, in place since August 25.
Looking at the chart, UNI is also approaching a cap on the 14-day Relative Strength Index (RSI), which could keep prices from gaining momentum.
At the time of writing, the index stands at 55.81, which is slightly below the aforementioned high of 57.00.
An upward cross between the 10-day moving average (red) and its 25-day counterpart (blue) has also occurred, which could be a sign of even bigger gains to come.
Manufacturer (MKR)
In addition to Uniswap, the maker (MKR) also rose to start the week, moving away from recent losses in the process.
MKR/USD hit a high of $793.44 earlier in the day, more than 5% higher than yesterday’s low of $752.01.
The token rose for a second day in a row and is now approaching a resistance point of $800 after today’s surge.
As of this writing, the MKR is now trading at its highest level since August 30, with the RSI also sitting at a multi-month high.
The index is currently trailing a high of 60.75, which appears to have been the trigger for today’s rally.
Like UNI, there has also been an upward crossover with MKR’s moving averages, which may be another positive sign for future gains.
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Could we see the manufacturer back above $800 this week? Let us know your thoughts in the comments.
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