Into the new week, top market performers seem to have relented in their quests for greater heights. As a matter of fact, the likes of UNI and YFI which have taken us by surprise within the past few days are now seen visiting levels we taught could never come to play again.
On the list of top losers today, we enlist UNI which leads the pack with a considerable 11% 24-hour loss. Others like YFI and Sushi also come into the picture with moderate losses within the same time period.
#1. Uniswap (UNI 10.66% Loss):
After UNI tokens were airdropped to thousands of users, the coins recorded its first major daily loss for the first time. While this caused great panic among crypto enthusiasts lately, the coin seems to have caught a deep bearish signal.
UNI coin has lost around 11% since yesterday. The coin has an excellent market sentiment among traders voting for a prolonged bull market into the last quarter of the year.
In the 24-hour timeline, the coin is down by almost 11% but a bullish possibility seems to be intact.
Technical Points
- General price trend is bearish
- Major price support is set at $4.1
- Next level of possible resistance lies at $4.5
At the time of writing this piece, UNI is trading at $4.23. Its market cap is hovering around $642 million.
#2. Yearn.finance (YFI tokens 10% Loss):
YFI had a rough market grasp within the last 24 hours. In the timeframe described, the coin received around 10% loss.
At the time of writing this piece, YFI is trading at $26,053 while plunging towards the $25,000 mark. This is about a 34% difference in the biweekly time frame.
The coin failed the $28,000 support level and also failed the next support at $27,000 Before midday, YFI tested the price level at $26,500 but couldn’t find proper support there. It later fell below to build key support at $26,000.
Within the last 30 days, YFI lost around 3.5% to register a negligible loss amid the top loser’s cryptocurrencies of the day.
- Next level of major resistance at $28,000
- Next level of major support at $26,000
- RSI has leveled out at the 90.0 level and seems to need a slight retracement.
#3. SushiSwap (SUSHI 5.88% Loss):
SUSHI makes the top spot on today’s list of top losers. Although, its price, since the last one month was dangerously low due to an alleged exit scam purported by its creator. Converting over two million in SUSHI tokens to ETH, the shock left SUSHI’s community in disarray.
As of now, the market sentiment towards SUSHI is very conservative. With around 60% pessimism, traders believe the tokens may soon plunge into another bear markets.
The token is only about one month old and has made around 30% loss since last week. The 2-week timeframe is also bearish with around 80% loss.
SUSHI is now changing hands at $1.27 amid a market cap hovering around $171 million.
Technical Points
- SUSHI failed to hold the support at $1.5 and is now testing the next support level at $1.20
- Next level of major support lies at $1.20
