While the broader market sentiment struggles with uncertainty and a majority of the crypto coins have witnessed significant correction in the last two weeks. Despite this downfall, we have hand-picked some of the Defi tokens showcasing strong bullish patterns. This technical setup should bolster the following tokens to resume their bullish recovery in April 2022
Uniswap(UNI)Source- Tradingview
The Uniswap price has been moving sideways for the last seven months, fluctuating between a low of $4.7 and a high of $7.8. This rectangle pattern presents two opportunities for traders to enter long positions: one near the support level of $4.9 for a bullish reversal trade, and another when the price breaks out above the $7.8 mark.
As of now, the UNI price traders at $6 and continue to consolidate in a narrow range as the market struggles with uncertainty. If the negative sentiment builds up, the UNI will likely revisit $4.9 where traders can find an opportunity to reaccumulate.
Also Read: Top 6 Liquid Staking Platforms On Ethereum
Internet Computer(ICP)
Source- Tradingview
In the last four weeks, the Internet Computer coin price rebounded twice from the $4.65 support level indicating the buyers are actively accumulating at this support. In the daily time frame chart these two reversals reflected the formation of a double bottom pattern.
Under the influence of this pattern, the ICP price gained 12.5% in the last four days and is currently approaching the $5.78 neckline resistance. A potential bullish breakout from this resistance will intensify the buying pressure to rechallenge the $7.668 swing high resistance.
Theta(THETA)
Source- Tradingview
In the daily time frame chart, the Theta price shows the formation of a cup and handle pattern. In response to this pattern, the coin price witnessed a U-shaped recovery from 1st January to mid-February, followed by a correction phase which is called the handle portion.
As of now, the Theta price has recently bounced back from local support of $0.973-$0.965 and surged 9% to reach the current price of $1.49. With sustained buying, the Theta price will rise 20% to challenge the $1.3-1.33 neckline resistance.
- Pro-XRP Lawyer John Deaton Blasts Warren and SEC Over Crypto Regulation
- Bitcoin Supply on Exchanges Falls as Bullish Pressure Mounts
- Ripple CLO Hails Senate Vote to Overturn SEC’s Anti-Crypto Rule
- Bybit Lacks Approval for Digital Asset Services in France, AMF Warns
- 30-Year Mortgage Rates Drop to 6.84% as Inflation Slows
- Make $100,000 With 4 Ethereum Meme Coins To Buy In 2024 Bull Run
- Smart Money Has An Eye For 2 Crypto To Buy For 10X-50X Potential In 2024
- XRP Price Forecast: $1 XRP Awaiting Ripple vs SEC Resolution?
- Bonk Price Prediction: Can Bithumb Exchange Listing Trigger 16% Move In BONK Price
- Cardano price prediction: Is ADA Ready to Test the Crucial $1 Resistance Level Soon?