Maker (MKR), Uniswap (UNI), and Origin Protocol (OGN) Technical Analysis: Bulls Next
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Maker (MKR), Uniswap (UNI), and Origin Protocol (OGN) Technical Analysis: Bulls Next

April 22, 2021      Dalmas Ngetich

The Maker, Uniswap, and Origin Protocol technical analyses point to determined buyers. OGN/USDT has support at $1.40. Meanwhile, UNI/USDT could reach $60, while MKR/USDT bulls are open for $7.3k.

The Origin Protocol (OGN)

Blockchain allows resources to be shared. A merger between commerce and finance is proving a game-changer. In this shift, the Origin Protocol is central as OGN primes its system.

Past Performance of OGN

The OGN technical analysis indicates bulls despite recent corrections. In a retracement, the OGN price is within a $0.50 zone on the last day between $1.70 and $2.20. At the same time, trading volumes are average and decent at $329 million, adding 120 percent on the last trading day.

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Day-Ahead and What to Expect

The OGN/USDT price is in an uptrend, shaking off sellers of late March that spilled over to early April. OGN bulls have flown back, soaking April 18 sell pressure in a climactic end of the bear momentum.

OGN/USDT prices are in range, oscillating inside Apr 18-high and low. Also, prices found support at around the 50 and 61.8 percent Fibonacci retracement level of the Q1 2021 trade range.

OGN/USDT Technical Analysis

OGN Daily Price Chart for Apr 22

OGN bears are in control as long as price trend below the 20-day moving average—the middle BB—and $2.25.

A surge above this level opens up OGN/USDT to $3.4—April 2021 highs, in a buy trend continuation pattern.

In this case, a break below support at $1.40 could see OGN prices tanking to $0.80—the 78.6 percent Fibonacci retracement of the Q1 2021 trade range.

Uniswap (UNI)

In DeFi, Uniswap exemplifies the power of trustless trading. Within the DEX, UNI acts as a governance token.

Past Performance of UNI

UNI/USDT prices are flat-lining below $40 as bulls resist attempts to pull prices down, judging from Uniswap technical analysis on the daily chart.

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As UNI prices oscillate in an intraday $7 range within $30 and $37, participation is up 117 percent to $2.9 billion.

Day-Ahead and What to Expect

UNI added 14 percent on the last day, paring losses of last week. The token is trading at $37 in an uptrend.

From the daily chart, UNI is in range with clear support and resistance at $25 and $40, respectively.

Uniswap Technical Analysis

Uniswap Daily Price Chart for Apr 22

UNI price action suggests bulls.

However, in a correcting market and so much depending on ETH, the short-term seems bullish. Accordingly, a close above $40—Q1 2021 highs–would see UNI bulls flow back.

Consequently, it would likely push UNI/USDT to $58—the 1.618 Fibonacci extension level of the Q1 2021 trade range in a buy trend continuation pattern.

Maker (MKR)

Being the first tags certain perks. Maker defines lending in DeFi, enjoying immense success if MKR price performance is anything to go by.

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Past Performance of MKR

The path of the least resistance remains northwards for Maker. At over $4.5k, MKR/USDT buyers are firmly in control. The token’s trading volumes rose 330 percent to $1.2 billion on the last trading day.

Maker: Day-Ahead and What to Expect

The MKR price is up double-digits on the last day, adding 27 percent. Accordingly, it has outperformed both BTC and ETH on the previous trading day and week-to-date.

MKR/USDT is trading within a bullish breakout pattern, blasting above Q1 2021 highs.

In a breakout pattern, volumes are also surging. Reflecting interest, BBs are diverging, indicating growing volatility and momentum.

MKR/USDT Technical Analysis

Maker Daily Price Chart for Apr 22

The MakerDAO uptrend is defined.

A series of highs confirming the breakout of April 15 puts MKR/USDT traders firmly in control. Notably, accompanying the uptrend is an uptick in trading volumes in the last few trading days.

In the medium term, the MKR bulls could target $7.3k, the 2.618 Fibonacci extension level of the Q1 2021 trade range.

#DeFi #MakerDAO #MKR/USDT #OGN/USDT #The Origin Protocol #UNI/USDT #Uniswap
Dalmas Ngetich
Dalmas Ngetich

Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.