Bitcoin, Ethereum & Uniswap - American Wrap: 9/21/2020

Bitcoin Price Prediction: BTC Needs To Defend Critical Support Level At $10,600

Bitcoin was trading inside an ascending triangle pattern between September 3 and September 15, which is created when the price establishes higher lows and a horizontal trendline around the swing highs. The flagship cryptocurrency had a bullish breakout of the pattern on Sept. 14 that saw it rise to $11,100. Now BTC seems to be retesting the x-axis of this technical formation.

Ethereum Erases $4 Billion In Market Capitalization Within Hours

Ethereum formed a bear flag on the 4-hour chart which started its flag pole On September 1. The upwards consolidation period started on September 6 and the pattern has now clearly broken bearish now but has not yet slipped below the low of the pole at $310. 

Uniswap Price Forecast: UNI Ready For A Bullish Assault, Once $5.7 Is Cleared

UNI, the native token of a popular DeFi project Uniswap, rebounded from the support of $4.7 to trade above $5.5 during early Asian hours. By the time of writing, the token retreated to $4.9; however, the short-term technical picture implies that the downside correction from the historical high may be coming to an end. Let's have a closer look at the technical indicators and on-chain metrics to see if the coin is ready to resume its upside quest.

Image sourced from Pixabay