HBAR has been in the headlines lately. This was because holders filed a petition against the network developer. They did this in a bid to force them to make the necessary changes to the network and cause a significant price increase.
Although there is no evidence of the party carrying out the task, Hedera prices are seeing more surges. For example, on Monday, it started trading at $0.09 but started a massive surge that saw it break several key barriers. One such is the $0.10 resistance. Following the flip, it continued upwards and was heading for $0.12 but halted its advance. Nonetheless, it peaked at $0.117 and registered more than 25% gains.
Another bullish move took place on Thursday. Trading resumed at $0.104 but dropped and threatened to go below $0.10. However, it recovered and made another attempt at $0.12 but failed. It ended the day above $0.115 with gains exceeding 11%. With these increases adding up, the altcoin is up by almost 22% over the last seven days. However, the charts are blaring warnings.
One of the indicators is the Relative Strength Index. The metric shows that the asset is overbought at this time. This means that the altcoin is due for correction and may register considerable price declines in the coming days. Nonetheless, the Moving Average Convergence Divergence is silent as it continues its surge. However, it is important to recognize that the 26-day EM halted its ascent. This may mean the start of a massive price decline.
In the event of a retracement, HBAR may retrace to a retest of the $0.10 support. On the other hand, the cryptocurrency may continue its attempt at $0.12.
Uniswap Adds 40%
As with most altcoin, Uniswap also had notable increases over the last seven days. It gained more than 40% during this period as trading conditions improved. It is worth noting that the asset had a sluggish start to the session under consideration. During the first four days of the week, it had considerable price declines. As a result, it dropped to of $7.
The market trajectory changed on Friday as the coin had its biggest surge. It opened trading at $7.35 but dropped to a retest of the $7 mark. However, it rebounded and started its uptrend. Following the kickoff, it broke its more than one-year high at $8.20. It continued its uptrend and flip more barriers. One such is the $10 resistance. The flip is significant as this is the first time since UNI is breaking the said mark since August 12, 2022.
The rally continued with the asset as Uniswap made an attempt at $13 but failed as it experienced strong corrections at $12.8. Afterwards, it dropped to a close at $11.4 which meant it closed with gains of more than 54%.
Nonetheless, following this large single day hike, indicators are blaring warnings. One such is the Relative Strength Index. At the height of the uptrend, the metric rose to a high of 86. This means the asset is overbought due for corrections. To this effect, in the coming days, UNI may register significant declines until it drops below 70. The $10 support might flip for this to happen.
