Biggest Movers: APE Hits 2-Month High, as UNI Nears Highest Point Since April
Apecoin rose to its highest point in over two months on hump day, as prices rebounded following a two-day losing streak. Uniswap was another big mover on Wednesday, as the token climbed by as much as 14%. Overall, the global crypto market cap is trading 2.79% higher as of writing. Apecoin (APE)
Apecoin (APE) was one of today’s notable tokens to surge, as global crypto markets were back in the green.
APE/USD snapped a two-day losing streak, as the cryptocurrency rose to an intraday peak of $7.41 earlier in today’s session.
The move sees APE once again break out of its long-term resistance level at $7.10, which has been held since May 25. APE/USD – Daily Chart
Wednesday high sees the token recapture those highs, with bulls now hoping to sustain this most recent break, unlike the moves this past weekend.
As of writing, the relative strength index (RSI) is now trading at 67.44, which is marginally below a resistance point of 68.
In order for bullish momentum to continue into the remainder of the week, we will need to see APE break out of this ceiling. Uniswap (UNI)
Like APE, uniswap (UNI) also rose today, with prices nearing their highest point in over two months, following an earlier price surge.
The token was up by nearly 14% during the hump-day session, with prices rising to a high of $9.33 in the process.
This rally saw UNI/USD move towards last Thursday’s high of $9.85, which is the highest point the token has traded at since April 15. UNI/USD – Daily Chart
However, in order to recapture this high, UNI must break out of an interim resistance level of $9.40, which it has so far failed to achieve today.
Following earlier highs, UNI is now trading at $9.08, as traders likely liquidated positions, in order to secure gains.
This comes as the 14-day RSI has collided with a ceiling of its own at the 66 level, which likely triggered fear in previous bulls.
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Do you expect uniswap to overcome this hurdle in the coming days? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: BTC, ETH Rebound as Global Markets React to Pelosi’s Visit to Taiwan MARKET UPDATES | 11 hours ago Biggest Movers: DOT Drops Below $8.45 Resistance Level, as CRO Rises to Multi-Week High MARKET UPDATES | 1 day ago
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