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After surging by 15% to break its ascending trendline, Litecoin’s momentum has been cooling off, indicating a potential downturn. This aligns with its technical indicators, signaling dormant wallets becoming active. Moreover, the LTC ecosystem also witnessed a negative spike in the Network Realized Profit/Loss (NPL) indicator, pointing to a decline ahead.
Meanwhile, crypto analyst Mind Trader has made headlines with a bold UNI price prediction suggesting that the $50 mark is on the cards for the short term. Can this scenario materialize? On-chain metrics suggest that UNI’s price has attempted to break and flip the $10 trendline twice this year. The token failed in both attempts to find support around this area, retracing below this mark.
Litecoin’s price breached an ascending trendline after facing rejection and closing below its 200-day exponential moving average. The LTC’s price has been declining amid a wide market rebound. If the altcoin pulls back to around the $68 level, which is a critical resistance level, it could slip down by 11% to retest its August low of around $59. Notably, its relative strength index has been increasing towards the neutral regions, indicating a declining bearish momentum.
According to Santiment’s Age Consumed Index, it coincides with the fairly bearish outlook. The technical metrics indicate spikes in dormant tokens (LTC tokens stored in wallets for a long time) are moving, possibly used to cause short-term local tops or bottoms. Following LTC’s unprecedented price history, such spikes were followed by a decline in value.
Additionally, the Network Realized Profit/Loss indicates a bearish outlook. It highlights the strong increase in NPL, suggesting that its holders are on the verge of selling their tokens for profit. Strong dips suggest that LTC holders, on average, are realizing losses, which is arguably a panic sell-off and investor capitulation. However, if LTC recovers its 200-day EMA at the $75 range, the price of LTC could surge to its October 19 high of $76.19.
Uniswap’s native token, UNI, has been showing signs of a potential breakout following a strong performance across multiple timeframes. The UNI token has posted an impressive weekly gain of over 28% to surpass the $8.80 mark with a YTD of over 64%. According to Rekt Capital analysis, Uniswap has demonstrated remarkable strength following a successful retest of the token’s critical $7.21 Range Low support level.
This retest has been characterized by downside wicking and has served as a major trigger for the recent bullish momentum in Uniswap’s price. Moreover, despite the UNI token positioning itself for a potential breakout from its current level, the analyst stated that the confirmation remains pending. For a confirmed Uniswap price breakout within the monthly timeframe, the UNI token has to secure a monthly close above the $9.29 range high resistance.
Moreover, according to CryptoDoc, the Uniswap price has broken above the long-standing downtrend line. This breakout could signal bullish momentum, as breakouts like this normally suggest the end of a dipping trend. This indicates that Uniswap might be ready to gain traction, setting the stage for the next target at $10 while eying the $50 price target.
Lunex Network is a hybrid crypto exchange platform that pioneers decentralized trading. Its security, speed, and robust staking rewards program sets it apart from its competitors. Lunex Network offers a seamless cross-chain trading experience with over 50K trading pairs, combining user control with efficiency and liquidity.
These features have managed to attract investors in the project’s presale, raising over $2.1M. The price of LNEX increased to the $0.0021 mark, representing a surge of over 66% from the token's starting price of $0.0012.
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork
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