The value of the decentralized finance market recovered somewhat in this week's trading after dropping below $150 billion last week. It is clear that the decentralized finance market continues today with an average capitalization of $165 billion.
The famous Altcom Uniswab was buried, trying to hold the important support at $20 this week. Effie is also trying to reach its lows in September as its downtrend continues. Also, Oma will test a critical price level today after seeing a dangerous uptrend until November 15th.
UNISwap (UNIs/USD)
The UNIS/USD currency pair fell rapidly after it broke the $24 support level on November 15. Buying from the bottom has caused USD/USD to meet new resistance at $22.
At the moment, the $20 support is still important, while the daily chart shows that UniSwap has slowed down the downtrend over the past week. The price movement of the US dollar against Yoniswap can also be observed. It is stuck in an intermediate-range between $20 and $22, while the rest of the week is in an uptrend from 21.53 to 22.0. The 200 MA (moving average) can be followed carefully. It has major resistance at $22.82 and another minor resistance at $24.3.
Today's close below $20 could push Uniswab towards the $18 range due to volatility. The technical indicators have been bullish on the daily chart, and it looks like they may be up again. This could cause the USDJPY to rise against Yoniswap. Bullish attacks are allowed as long as the stock remains above $20.
Effie AAVE
Evie struggled to break the average resistance at $340 through November, but the general downturn in the market prevented him from doing so. The UNI/USD pair fell as a result to $253.
Looking at the short-term price action, we note that the altcoin reached its lowest levels in September. If there is no daily close above this level this week, the possibility of extending the downtrend to $215-240 increases.
Whereas, today's close above $260 would be an important step for Effie's recovery. Because while technical indicators are moving in the oversold territory, this price movement also allows the indicators to form signals that indicate buy orders.
It appears that the $267-$277-$290 levels are the closest price resistance. Also, on the upside, the $267-$277-$290 levels seem to be the closest price resistance.
UMA/USD
Decentralized finance currency UMA/USD, which is ranked 112th in the cryptocurrency rankings, is attracting attention with its choppy intraday bullish movements lately. The altcoin, which entered a downtrend with sales after a peak of $23.37 on November 15, is moving in the $14 range today.
The current levels are the result of the major upward trend line on the daily chart. Below this trend line, the 13.12 exponential moving average became an important support because it performed well at 13. The outcome of the downtrend continuation depends on how much it fell to test the 13.12 moving average. $11 led to the $11 range, support for the end of October.
Although the RSI and MACD stochastics, which are at lower levels, have not yet produced a bullish signal, it seems that it might be the first condition for a decisive breakout of the OMA through the $15 retracement levels. Besides, the important EMA values (EMA 8 and 21) are about to make a bearish cross on the chart. Today's daily chart. In this case, he points out the importance of protecting the $13-14 range so that losses don't increase further.
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