UNI Higher, DOGE in Red on Saturday – Bitcoin News Market Updates

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Uniswap was in the green to start the weekend, despite consolidation in the cryptocurrency markets. The token rebounded from losses suffered on Friday, approaching a key resistance level in the process. Dogecoin, on the other hand, fell on Saturday as traders tried to find a stable support point.

Uniswap (UNI)

Uniswap (UNI) was one of the notable movers on Saturday as prices rebounded from declines experienced the previous day.

After dropping to a low of $6.10 on Friday, UNI/USD rebounded slightly, climbing to a high of $6.27 in the process.

As a result, the token approached a key resistance level of $6.35, which was last seen on December 5.

UNI/USD – Daily Chart

In order to reclaim this point, UNI bulls will first need to break above a cap of 56.70 on the Relative Strength Index (RSI).

Currently, the index is trailing a level of 54.75, which has contributed to the current market volatility as traders are unsure whether to maintain their previous positions.

However, should we see price strength break above the aforementioned resistance at 56.70, then there is a possibility that the UNI bulls could send prices towards the $7.00 mark.

Dogecoin (DOGE)

Dogecoin (DOGE) meanwhile remained in the red, after a failed breakout of a key resistance point on Friday.

After hitting a high of $0.09858 yesterday, DOGE/USD fell to an intraday low of $0.096 on Saturday.

The move comes as the coin meme was unable to breach its high of $0.0990 during the Friday session.

DOGE/USD – Daily Chart

Looking at the chart, this resistance point coincides with another ceiling that of the RSI.

At the time of writing, the index is currently trailing at 51.96, which is slightly below a high of 53.00.

If we saw this broken wall, it is likely that the coin meme could retrace towards the $0.1000 region.

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Do you expect dogecoin prices to rebound this weekend? Let us know your thoughts in the comments.

Elie Dambell

Eliman brings an eclectic perspective to market analysis, having previously served as a brokerage director and retail educator. Currently, he acts as a commentator on various asset classes including Crypto, Stocks, and FX.

Image credits: Shutterstock, Pixabay, Wiki Commons, rafapress / Shutterstock.com

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