- The cryptocurrency winter continued this week as demand waned.
- Bitcoin price crashed below $27,000 while ETH tumbled to a 7-month low.
- This article focuses on Ocean Protocol, Cronos, and Uniswap.
Cryptocurrency prices remained on edge this week as demand continued waning. Bitcoin plunged from this month’s high of over $28,000 to less than $26,500. Other popular cryptocurrencies like Ethereum, Tron, and Uniswap also retreated. This article will look at some popular cryptocurrencies like Ocean Protocol, Cronos, and Uniswap.
Ocean Protocol price prediction
Ocean Protocol price has been in a tight range in the past few weeks. It was trading at $0.2830, where it has been at in the past few days. This price is a few points above the year-to-date low of $0.2538. Ocean has remained below the 50-day moving average and the descending trendline that connects the highest swings since March.
At the same time, Ocean’s volume has been quite limited in the past few months. It has also formed what looks like a bearish flag pattern and a descending triangle. Therefore, the outlook for Ocean price is bearish for now. This view will be confirmed if the price moves below the support at $0.2800. If it happens, the next level to watch will be at $0.2500.
Cronos (CRO) price forecast
Cronos, formerly known as Crypto.com Coin, has been under pressure for a while. This happened as several factors converged. First, Crypto.com lost market share in the exchange industry despite spending heavily in marketing.
Second, Cronos has seen activity in its DeFi ecosystem wane. Several newer crypto projects like Arbitrum, Base, and Optimism have gained market share. Finally, it has dropped in line with other cryptocurrencies like Bitcoin and Ethereum.
CRO price was trading at $0.050 on Friday, much lower than the year-to-date high of $0.095. The current price is an important one since it has failed to move below it several times this year. It has moved below the 50-day moving average while its volume has dropped.
Therefore, the outlook for CRO price is neutral with a bearish bias. This bearish view will be confirmed if it drop below the crucial support at $0.048, the lowest level this year.
Uniswap price prediction
Uniswap and other DeFi tokens like CAKE and DYDX prices have been under intense pressure as volume in their ecosystems have plummeted. UNI crashed to $4 on Friday, lower than the YTD high of $7.50. It has dropped below the crucial support level at $5.26, the lowest swing in March.
Uniswap price remains below the 50-day and 100-day moving averages. It has also crossed the important support at $4.03, the lowest swing on September 12th. The Relative Strength Index (RSI) has also drifted downwards. Therefore, the outlook for the coin is bearish, with the next level to watch being the year-to-date low of $3.60.
