thread 3/3
Uniswap price analysis
Uniswap's recovery gained momentum after buyers propelled the price above the moving averages on May 20. The UNI/USDT pair fell from the overhead resistance at USD 11.81 on May 26, but if buyers do not give up much ground to bears, the probability of a breakout above USD 11.81 will increase. If this happens, the pair could reach USD 13.34 and then USD 15.
On the flip side, if the pair slips below USD 10, bulls would be booking profits. This could plunge the pair to the 20-day EMA (USD 9.05) and delay the start of the next leg of the uptrend.
Arbitrum price analysis
Arbitrum (ARB) has been attempting to clear the USD 1.27 resistance for the past few days, but bears have held their ground. However, a small positive for bulls is that they have not allowed the price to fall below the 20-day EMA (USD 1.11). This increases the possibility of a breakout. If that happens, the ARB/USDT pair is likely to pick up momentum and rise toward USD 1.60 and eventually USD 1.75.
This optimistic view will be negated in the short term if the price sharply reverses direction and plunges below USD 1.10. This could pull the price to the strong support near USD 0.90.
In summary, the technical analysis of the prices of bitcoin, Ether, Chainlink, Uniswap and Arbitrum suggests that markets may follow an uptrend if buyers can sustain higher levels. The approval of Ether ETFs could drive the price of these altcoins higher in the short term.
