Altcoins
Altcoins show the strength of the UNI price, up 15%, while the TON price marks a new high
Cryptocurrency markets have started to consolidate again after the price of Bitcoin collapsed from a major support zone. While major altcoins are expected to follow the rally closely, others are showing sufficient strength. Despite the significant decline in volumes, Uniswap (UNI) maintained a strong uptrend, followed by Toncoin (TON). These tokens are expected to maintain a healthy recovery until the close of the day.
Uniswap (UNI) price analysis.
THE Uniswap price it closed the previous day’s trade comfortably above the crucial $10 levels, maintaining the rally’s momentum. Now that the price has reached the required levels, the upcoming weekend trade is expected to be very interesting. A final push above the next resistance could validate a rally from the bearish well.
UNI price is about to break out of the crucial resistance at $10.5 before the weekend, which could increase volatility later. Furthermore, the RSI bounced off the ascending support, suggesting growth in bullish strength. Therefore, the price is expected to remain elevated and eventually reach the key support zone of around $12 over the weekend, which could lift the levels above $13.5.
Toncoin (TON) price analysis.
After consolidating in a narrow range for a while, Toncoin price triggered a huge rally in the first few hours of trading. This caused the price to mark a new all-time high at $8.01, followed by a slight pullback below $7.5. The bears are trying to break down the levels below $7, but the bulls are expected to defend the lower support zone between $7.25 and $7.44.
TON price has been trading inside an ascending triangle ever since the rally broke out from the consolidation. However, the price has broken through the final barrier, which suggests that the bulls are ready to discover new highs in the coming days. Considering the Fibonacci levels, the next target for the token could be around $9.7, which could further pave the way for a double-digit mark by the end of the month.