5 Altcoins to Watch Over the Next 24-48 Hours: UNI, YFI, CHZ, MKR, LINK
- The global crypto market cap is up 1.01% according to CoinMarketCap.
- The prices of CHZ and LINK have risen over the last 24 hours.
- Daily charts for YFI, UNI, and MKR are currently bearish.
The global crypto market cap is up 1.01% over the last 24 hours. At press time, the crypto market cap stands at $837.67 billion according to the crypto market tracking website, CoinMarketCap.
5 altcoins, (UNI), Yearn.Finance (YFI), Chilliz (CHZ), Maker (MKR), and Chainlink (LINK) have all seen their price drop over the last 24 hours. This comes after each of their prices entered into a multi-day rally.
Uniswap’s price dropped 0.88%, taking the altcoin’s price down to $5.91. UNI’s price has also weakened against (BTC) and (ETH) by 2.37% and 1.59% respectively. At press time, one UNI coin is worth around 0.0003512 BTC and 0.004846 ETH.
UNI’s trading volume is another figure that dropped for the altcoin. CoinMarketCap shows that UNI’s 24-hour trading volume decreased 17.63% compared to the day prior. As a result, the total daily trading volume for UNI stands at $102,467,118.
Daily chart for UNI/USDT (Source: CoinMarketCap)
There is one bullish flag present on UNI’s daily chart that may trigger over the coming days. Looking at the chart, the daily RSI line is sloped positively towards the overbought territory. This is a slight bullish indication that will be confirmed once the daily RSI line crosses above the daily RSI SMA line.
YFI’s price is trading at $6,152.45 after dropping 1.56% over the last 24 hours. Compared to the two crypto market leaders, YFI has weakened against BTC by 3% and against ETH by 2.18%.
Trading volume for YFI has dropped significantly over the last day. At press time, the figure stands at $19,645,248. This is 47.93% lower than the day before.
Daily chart for YFI/USDT (Source: CoinMarketCap)
The daily chart for YFI is looking bearish at the moment given that the daily 9 EMA line is positioned below the daily 20 EMA line, and the daily 20 EMA line is positioned below the daily 50 EMA line. However, YFI’s price is looking to challenge the 9 EMA level, which could see the level flipped into support over the next 2 days. This will be a bullish sign.
CHZ’s price was able to rise over the last 24 hours. Currently, CHZ is up 5.40% over the last 24 hours – taking its price up to $0.2399. The altcoin’s price also gained some strength against BTC and ETH.
When it comes to CHZ’s daily trading volume, the amount of volume has dropped 27.20% over the last 24 hours. This has taken the total to $544,820,622.
Daily chart for CHZ/USDT (Source: CoinMarketCap)
The price of CHZ has been in a 3-day positive rally that has elevated CHZ’s price from a low of $0.1937 on the 15th of November this year to a high of $0.2412 on the 17th of November. Today’s price movement looks to add to the bullish rally.
There is evidence that the price rally will continue as the daily 9 EMA line crossed bullishly above the daily 20 EMA line. This is indicative of a short-term bullish rally.
MKR’s price is down 2.30% over the last 24 hours to bring it down to $652.26 at press time. MKR’s price also weakened against BTC and ETH by 3.28% and 2.40% respectively.
Daily chart for MKR/USDT (Source: CoinMarketCap)
The daily RSI line for MKR attempted to cross above the daily RSI SMA line but the attempt was unsuccessful. Currently, the price of MKR is being held down by the daily 9 EMA. In addition, the daily 9 EMA is positioned below the daily 20 EMA line, which is a bearish sign for the altcoin.
LINK is another coin on this article’s list of altcoins that has seen its price rise over the last 24 hours. CoinMarketCap shows that LINK’s price is up 1.33%, which has resulted in LINK trading at $6.26.
Daily chart for LINK/USDT (Source: CoinMarketCap)
The daily 9 EMA line crossed below the daily 20 EMA line on the 10th of November 2022, as can be seen on the daily chart for LINK above. Since then, the bearish flag played out as LINK’s price dropped to a low of $5.775 before recovering briefly, and then dropping further. The price of LINK is currently being held down by the daily 9 EMA line.
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