Bitcoin [BTC] and the top ten altcoins were seen taking the backseat while the other took over. BTC had once again slumped below $50K while its market cap dropped to $926.78 billion. During this time, coins like Uniswap [UNI], VeChain [VET] as well as Enjin Coin [ENJ] were seen recording significant rises over the last 24-hours.
Uniswap [UNI] one-hour price chart
During the time of writing, UNI was seen trading for $28.71 with a 24-hour price hike of 7.10%. The asset was ranked 13th on CoinMarketCap’s list, as its market cap stood at $8.55 billion. The asset had preceded prominent cryptocurrencies like Dogecoin [DOGE], Tron [TRX], and Monero [XMR].
The short-term price chart of the altcoin predicted a bright future for the asset. The altcoin had recently surged past a critical line of resistance at $27.27. The bulls in the market could have made this possible for the altcoin. It turns out, these bulls were still residing in the UNI market. The Parabolic SAR indicator formed a prominent line of support below the candlesticks, which diminished UNI’s chances of slumping below $27. The Chaikin Money Flow remained over zero and indicated a bullish momentum.
The Relative Strength Index further suggested that UNI was close to being overbought. All these signs insinuate the possibility of the altcoin hitting $30 anytime soon.
VeChain [VET] one-hour price chart
VET, with a daily surge of 15.46% was seen in high spirits. It results, the price of the Vechain hits $0.05322 at press time. This trend’s persistence could help the asset push past its recently achieved all-time high of $0.06044. Additionally, the market cap of VET was noted at $3.37 billion.
The bears were seen dwelling in the one-hour price chart of VET. Despite moving past its resistance at $0.051, the altcoin could succumb down to either $0.046 or $0.041, which poses a major line of support. The Awesome Oscillator indicator with red closing bars announced the presence of bears. The Money Flow Index indicator revealed that a sellers’ sentiment was in the VET market.
Enjin Coin [ENJ] one-hour price chart
ENJ was undoubtedly the star of today’s market. The altcoin was surging by over 40% in the last 24-hours. Despite ranking low in terms of market cap, the altcoin’s price hit an all-time high of $1.41. At press time, ENJ was trading for $1.31.
The one-hour price chart of ENJ suggested that ENJ could make its way to $2. The Bollinger Bands had a huge disparity between them, which further insinuated the increase in volatility. This surge would be beneficial for the asset as the MACD indicator affirmed bulls’ appearance with a bullish crossover.
The Relative Strength Index issued that the asset was recovering from being overbought. This trend could help the altcoin achieve a new all-time high of $2.
