The encryption market has risen today, May 9, and continued the trend that was taking place in the past few days. This increase occurred when the fear and greed index turned green and with the decline in total economic risks to trade. This article explains the reason for the high currency market, and then provides price predictions for some major winners such as UISWAP (UNI), Floki (Floki) and Fartcoin (Fartcoin).
Why the encryption market rises
The encryption market rises, with bitcoin above $ 102,000, and ETHEREUM rose above 2400 dollars for the first time in months. Consequently, the market value of all metal currencies has jumped by 5.25 % in the past 24 hours to 3.25 trillion dollars. This increase occurred for three main reasons:
Low macro risk with commercial conversations start.
Increased accumulation of encryption.
Coinbase and Deribit Deal.
The main reason for the high cryptocurrency market is a decrease in total risk with the start of commercial conversations. The United States has already reached a trade agreement with the United Kingdom, and talks with China will start on Saturday. As such, there is increasing optimism that the risk of gross domestic product will calm down, which leads to the route of the federal reserve to start lowering rates.
The third party data shows that investors accumulate Bitcoin, in the hope that the currency will continue to rise. The flows to the Bitcoin investment funds have risen to more than $ 40.8 billion this year, and have risen in the past two months in a row. Spot Ethereum EtFS has started to see more flows this week.
Moreover, coding deals rise this year. Coinbase acquired Deribit on Thursday, while Ripple Labs recently bought Hidden Road and made a Circle’s offer, the second largest Stablecoin. Kraken also acquired Ninjatrader, while Robinhood bitstamp bought last year. These measures led to optimism that the encryption market is in a strong growth path.
Best Prices Prices: UISWAP, Floki and Fartcoin
This section provides price predictions for some higher metal currencies in the encryption market such as UISWAP, Floki and Fartcoin.
UNISWAP prices: Double giant shapes
The Daily Chart explains that the price of UISWAP has reached $ 4.673 this month. It formed a small dual -bottom style that was the neckline at $ 6, moving above. If we looked back, the currency formed a dual giant currency of $ 4.63, as it failed to move below since August last year. The neckline for this style is $ 19.47.
Therefore, the most likely uniswAP price expectations are upward, as the first goal is 12 dollars. This goal is the level of Fibonacci tradition by 50 % and the highest level on June 16, which is 91 % higher than the current level. The decrease under support at $ 4.6 will nullify the upcoming expectations.
UNISWAP price
Technical analysis of FartCoin prices: ADX’s wedge height and ADX is a risk
Fartcoin was one of the best artists in the encryption market, with almost 500 % of its lowest level in March. He continued to rise and is now approaching the level of decline by 50 %. However, the danger is that the gathering loses momentum because the average trend index (ADX) has been inclined down. Also, the symbol shape is a rising wedge style, a reflection mark.
Therefore, there is a risk that it may decline and may move less than one dollar in the next few days. A clear break over the upper side of the wedge will nullify the Fartcoin Habbudian forecast.
Ferkin price
Floki prices analysis: the volatility of the main resistance
The daily graph shows that the Floki price form a large wedge style in the first quarter. Next, the coin formed a reverse and shoulder head. I have now moved above the key resistance level at $ 0.0000962, which is the highest swing on April 30, as it was a dual small style.
Floki expectations are likely to be ascending, with the next point to see it at $ 0.00011, the slightest swing on November 3.
Floki price scheme
Will the encrypted currency market continue?
There is a possibility that the encryption market rally will continue with ease of risk and high demand for bitcoin. However, there may be volatility if the US and China talks do not end well.
Related questions (common questions)
The cryptocurrency market is rising due to commercial conversations and the increasing hope for the Fed Bank to start lower prices.
While gathering in the encryption market may continue, there is a risk of having fluctuations if American and CINA trade talks reach a dead end.
Floki and UISWAP prices have more bullish trend, but Fartcoin price is at risk of a declining penetration.
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CRISPUS is an experienced financial analyst in CoingApe with over 12 years of experience. It focuses on Bitcoin and other altcoins, which covers the intersection of news and analysis. His visions were shown on famous platforms such as banklestimes, Coinjournal, Hypeindex, Seekingalpha, Forbes, Investingcube, Investing.com and MoneytransFers.com.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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