The recent “boringness” continued to affect the cryptocurrency prices this weekend. Bitcoin prices have remained stagnant while the total market capitalization of all coins is below $2.1 trillion. This report examines some of the popular tokens including Artificial Superintelligence Alliance, Poodlana and Uniswap.
FET Price Analysis
This week, the Artificial Superintelligence Alliance token (FET), was volatile as Nvidia released its impressive financial results. The token initially spiked to $1.4796 before the announcement of results, but then fell to $1.200 after the stock of Nvidia dropped.
Investors remain concerned over the growth of this industry, despite its recent quarterly revenues exceeding $30 billion.
The daily chart shows that FET was trading in the range of 61.8% to 78.6% Fibonacci retracement. It is notable that it moved over the top of the green falling wedge pattern. A wedge can be one of the more popular market reversal signals.
FET formed a pattern of break-and-retest, which could indicate a possible rebound within the next couple weeks. It will most likely test the resistance level at $1.4796 – its high point from last week if this occurs.
Poodlana price forecast
Poodlana is one of the best-selling Solana tokens of this year. It made its debut on a couple of exchanges.
The token’s price has fallen from $0.042 at its highest to $0.016 since then. It is normal to see a token retreat when it first launches, as many of the people that bought it will exit.
This decline coincided also with the sale-off of crypto markets, which means that this is part and parcel of the overall process.
POODL’s price is showing signs of bottoming out as it has reached a solid support level at $0.016. The price has formed a pattern that looks similar to a double bottom, which is a bullish signal.
Poodlana will bounce back as soon as interest rates are cut by the Federal Reserve and investors start buying the dip. Poodlana is likely to bounce back if this occurs and will retest its important resistance level at $0.0335. This was the highest point on August 26th, which is 78% higher than the current price. Click here to learn more about Poodlana.
Uniswap Price Forecast
Uniswap has seen its volume increase in recent days, which is good news for the largest DEX platform in the market. DeFi Llama data shows the volume has jumped 11.60% over the past seven days, to $9.3 Billion.
At $5.60, the UNI token formed a chart pattern with a double bottom. This is usually one of the strongest bullish signals in the market. The price has moved down to $6 which is also the Fibonacci retracement of 23.6%.
The token is likely to continue climbing as the bulls aim for the 38.2% point of retracement at $6.15.
The post Crypto Price Forecasts: Poodlana FET and Uniswap could be updated as new information becomes available.
