Uniswap (UNI), Loopring (LRC), and DODO Technical Analysis
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Uniswap (UNI), Loopring (LRC), and DODO Technical Analysis

April 12, 2021      Dalmas Ngetich

Loopring (LRC) and Uniswap (UNI) technical analysis show prices are under pressure but with solid fundamentals. Therefore, bulls may lift LRC and UNI to $0.90 and $40, respectively. On the other hand, DODO prices are breaking out after deep corrections in Feb and Mar. A surge towards $6.5 and $10 could be on the cards.

Loopring (LRC)

As Layer-2 and scaling efforts in Ethereum take center stage, traders are looking at how best to take advantage of this shift for profit maximization. Loopring is a Layer-2 DeFi protocol, and LRC is its governance token.

Past Performance

Looking at the Loopring technical analysis and price charts, it is clear that LRC/USD is consolidating.

The LRC price is stable, moving inside a $0.03 range with caps at $0.54 and $0.57 on the last day.

Trading volumes are also down five percent on the last day to $68 million.

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Day-ahead and what to Expect

At the time of writing, the LRC price is trading at $0.58, perched at 85th with a market cap of $514 million.

The uptrend is firm as LRC/USD prices are within a bull flag.

Bollinger Bands are contracting, pointing to low volatility and decreasing momentum.

Trading volumes are within range. However, the failure for a definitive trend suggests a possible accumulation or distribution depending on the breakout direction.

LRC/USDT Price Analysis

Loopring Price Daily Chart for Apr 12

The LRC price is bullish but under pressure.

Traders are watching reaction at $0.45 and $0.50 on the lower side as support, and $0.60 on the upper end.

A close to the upside would see the LRC/USD price reach $0.70—the 23.6 Fibonacci retracement level of the Q1 2021 trade range, or $0.90—the Q1 2021 highs.

On the flip side, LRC losses below $0.45 could trigger further losses to $0.30—the 78.6 percent Fibonacci retracement of the same range.

Uniswap (UNI)

Uniswap is the world’s largest DEX, and UNI is its governance token.

Past Performance

In today’s Uniswap technical analysis, we look at whether the Q1 2021 performance will resume. The DEX has a TVL of $9 billion as of writing on Apr 12.

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UNI is bullish but trading in a tight $3 range between $28 and $31 defined by Apr 7 bear candlestick.

Trading volumes are down nine percent to $958 million on the last day of trading.

Days-Ahead and what to Expect

UNI is changing hands at $31, in an uptrend. It is a bullish development judging from related Uniswap price forecasts.

Trading volumes are picking up, adding 40 percent on the last day.

Bollinger Bands are contracting but flat as price range inside Mar 24 bear candlestick.

From a volume analysis and Effort-versus-Results perspective, UNI buyers have a chance once UNI/USDT trade above $31.

UNI/USDT Price Forecast

Uniswap Price Daily Chart for Apr 12

On a broader perspective, support lies at $25 and $28—these are the lows of Mar 24 and Apr 7. On the upside, $31 is a reliable resistance level.

A close above $31 could lift UNI to Q1 2021 highs of around $40.

Meanwhile, if UNI/USDT bears take control, prices may tank below $25 and the middle BB towards $20 and $18—the 38.2 and 50 percent Fibonacci retracement levels of the Q1 2021 trade range.

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DodoEx (DODO)

DodoEx is a multi-featured DEX primed by the DODO governance token.

Past Performance

On Apr 12, the DODO token is trading within a $1 range with visible buy and sell walls at $4 and $5, respectively.

Overly, trading volumes are picking up, adding 343 percent on the last day to around $18 million.

Days-ahead and what to Expect

The uptrend is firm, as DODO technical analysis shows. DODO/USDT prices are ranging inside Feb 19 bull bar while DODO trading volumes pick up, thrusting prices higher.

Bollinger Bands are widening, hinting at increasing volatility.

Notably, the DODO/USDT is trading within a bullish breakout pattern above Feb and Mar 2021 trade range.

DODO/USDT Technical Analysis

DODO Price Daily Chart for Apr 12

DODO is trading at $5, adding 29 percent week-to-date.

After two months of DODO price consolidation, buyers appear ready for a breakout after Apr 11 bull bar.

From the daily chart, DODO prices retraced deeply. Therefore, a close above $5 and the first bull target is $6.5, the 50 percent Fibonacci retracement of the Feb 2021 trade range. Sustained efforts may further lift DODO to $10—Feb 19 highs.

#DODO/USDT #DODOEx #Loopring #LRC/USDT #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.