Technical Analysis - Uniswap (UNI), Kyber Network (KNC), and Nexus Mutual (NXM)

Dalmas  |  Apr 14, 2021

In today's technical Analysis we will observe the ongoing trends of some popular altcoins namely the Uniswap, Kyber Network, and Nexus Mutual are trading within a bullish breakout pattern. The odds of UNI/USDT racing above $40 to $58 remain high. KNC/USDT bulls are hopeful, while NXM/USDT traders are cautious but targeting $75.

Uniswap (UNI)

DeFi is defined by, among many things, permissionless, non-custodial trading of which Uniswap dominates. UNI is the governance token. Based on its solid fundamentals, Uniswap's technical analysis is looking up.

Past Performance

The UNI price is trending within a bullish breakout pattern. UNI/USDT prices are held within a $3 range with caps at $34 and $37 on the upper side. Trading volumes are considerably low, shrinking 43 percent to $1.8 billion on the last trading day.

Days-Ahead and what to Expect

Uniswap buyers are in control. Trading at $36, the path of least resistance is defined.

UNI/USDT price is trading within a bullish breakout. Participation is picking up but comparatively low viz-a-viz those of Apr 12.

Overly, the uptrend is firm within a bull flag, but Uniswap bulls may break above $40 as optimism builds up.

UNI/USDT Technical Analysis

Uniswap Daily Price Chart for Apr 14

Ahead of v3, traders are upbeat.

As long as prices trend inside Apr 12 trade range, buyers have the upper end.

As such, from an Effort-versus-Results perspective, every low is a loading opportunity for aggressive UNI traders, as read from the candlestick arrangement in the daily chart.

On the other end, a close above $40 opens doors for $58, the 1.618 Fibonacci extension level of the Q1 2021 trade range.

Kyber Network (KNC)

A combination of non-custodial trading and innovation makes Kyber Network. KNC is its native token. Judging from KNC/USDT technical analysis of the last few days, buyers have the upper end.

Past Performance

The KNC/USDT price is in range, oscillating within a $0.20 zone with caps at $3.40 and $3.60 on the last day. At the same time, trading volumes are decent, falling two percent to $138 million.

Days-Ahead and what to Expect

The KNC price is changing hands at $3.5, adding four percent week-to-date but trailing BTC and ETH within the same time frame.

KNC/USDT prices are ranging within Apr 12 bull bar, a net positive for optimistic bulls.

Also, prices are around all-time highs above Q1 2021 levels.

As bands diverge and the moving average's gradient is positive, buyers are taking control of proceedings. Accordingly, with higher volatility and influx from traders, every low is a potential loading opportunity.

KNC/USDT Technical Analysis

Kyber Network Daily Price Chart for Apr 14

KNC/USDT technical analysis favor buyers. From candlestick arrangements in the daily chart, aggressive traders can load the dips as they aim at $5.

Notable, prices are ranging within Apr 12 bull bar, buoying bulls.

Provided KNC prices are steady above $3.2 and the middle BB, traders can load up.

On the other hand, a clean break above $3.8 would trigger risk-averse traders who can take advantage of the breakout trade to target $5.

Nexus Mutual (NXM)

Decentralized insurance in the future, a sector that Nexus Mutual does best. Priming its systems is the NXM.

Past Performance

The NXM price is charting higher, as Nexus technical analysis reveals. However, prices are in range mode as traders accumulate. From the daily chart, the NXM/USDT price is within a $4 range with caps at $56 and $60.

Encouragingly, trading volumes continue to build up, adding nine percent on the last day to $13.3 million.

Days-Ahead and what to Expect

NXM prices are bottoming up, trading at $60, and are up five percent on the last day, outperforming BTC.

Still, NXM/USDT price is waving inside Feb 2021 trade range and, in the immediate term, within Mar 31's bull bar.

Volatility is tapering as BB contract, but the uptrend is defined since the 20-day moving average is positively inclined.

NXM/USDT Technical Analysis

Nexus Mutual Daily Price Chart for Apr 14

How NXM/USDT price action reacts within Mar 31 trade bar would determine the immediate term trajectory.

Presently, NXM buyers have the upper hand.

As NXM prices bottom-up, aggressive traders can buy the dips while aiming at $75—Q1 2021 highs, especially if there is a comprehensive close above $65—Mar 31 highs.

Sharp, high-volume losses below the middle BB and $45 may trigger a dump towards $35 in sync with losses of late Feb 2021.

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