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- 1 UNI price slumped 3.81%, ARB price plummeted 1.00%, and APT rose 0.43% in the intraday session.
- 2 The technical tools are showing bearishness for all these three coins.
The UNI, ARB, and APT are highlighting bearish gestures for these cryptos on the daily timeframe. The UNI price slumped 3.81%, ARB price plummeted 1.00%, and APT rose 0.43% in the intraday session. This trio could deteriorate further in the coming sessions.
UNI, ARB, And APT, Technical Overview On 1-D Timeframe
Uniswap (UNI) Shows Downward Tendency
The UNI price advanced from $4 to $8 in the last two months of 2023. The price demonstrated a sign of decline as it met the supply region at the top level on the chart. Later, the price fell from the supply region and formed support at the $5.70 level and also reacted from the trendline support. The price surged to retest the supply region but failed to jump and started to decline again.
CMP at press time was at $7.10500 with an intraday decline of 4.31%, the price action suggests that it is approaching the trendline support. The next resistance level for Uniswap is at $8.0, while the support level is at $6.50.
The technical indicators for UNI exhibit a bearish overview, as the MACD started to converge. A bearish crossover is anticipated soon. Moreover, the RSI is below 14 SMA at 53 and cut SMA from below, this shows that it has a higher chance to decline on the daily time frame.
Arbitrum (ARB) Exhibits Bearish Performance
The price earlier showed a jump of 211% from $0.8000 to $2.4000 in the last quarter of 2023 and was seamlessly obeying the trendline support. But, after reaching the supply the price fell back to trendline support.
The current price structure shows that the price is unable to hold the support trendline and has slipped past it. The CMP is $1.7715 and shows more capacity to decline. The next resistance level for ARB is at $2.110, while the support level is at $1.5489.
Furthermore, XRP is below all major 20, and 50-Day EMAs and RSI is below the median line at 40.69. These conditions show more decline is likely and that the MACD shows a bearish cross with a broad histogram.
Aptos (APT) Bearish Outlook Seems Strong
The APT price surged from $5 to $11 in the November and December of 2023. The price declined after facing resistance at the supply region on the chart.
Later, the price fell from the supply region and formed support at the $7.50 level and turned around again to retest the supply region, but it seems it failed in its course and started to plummet again.
The CMP was at $9.14 with an intraday decline of 0.76%, the price action exhibits that it draws near to the trendline support. The next resistance level for Uniswap is at $10.50, while the support level is at $7.50.
Technical parameters illustrate that the MACD is showing a bearish cross. The RSI is in bearish territory below 50, and the price is breaking the dynamic supports of EMAs on the daily chart.
Summary
The UNI, ARB, and APT crypto price charts are showing a bearish price action and the technical parameters for each of these are confirming further bearishness.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
