3 Crypto Winners: HNT, UNI, and ORDI Face Potential Pullback
Amidst a broader downturn in the altcoin market, Helium (HNT), Uniswap (UNI), and Ordinals (ORDI) managed to make significant gains, putting them in the spotlight amongst other altcoins.
Helium (HNT) emerged as the leader, experiencing a weekly surge of over 10%. HNT’s price soared over the weekend, surpassing its previous four-month high of $8 and setting its sights on revisiting the 52-week high near $9.20. Trading within a rising channel and continuing to deliver higher highs, HNT maintains its upward momentum. At press time, HNT was trading at $8.32, exhibiting an intraday increase of 1.98%.
Uniswap (UNI) also made noteworthy gains, climbing over 7% this week after forming a double-bottom formation near the demand zone of $5. The current price action suggests that UNI is attempting to surpass the neckline resistance at $6.50. Breaking above this barrier could potentially lead to an extended upswing towards $8. With the correction coming to an end and various indicators aligned, UNI is poised for a reversal in the coming sessions.
ORDI crypto rose by 5% over the past seven days and is now aiming to break out of a falling channel by surpassing the upper trendline resistance at $32. Although falling channels traditionally indicate a bearish trend, the bulls have gained momentum and are seeking a reversal. Currently trading at $30.17, ORDI is showing promising signs, crossing the 20-day exponential moving average (EMA) and attempting to overcome the obstacle at the 50-day EMA.
While these three cryptocurrencies have experienced significant gains, there is speculation about a potential pullback in the near future. Traders and investors should closely monitor market conditions and technical indicators to make informed decisions regarding their investments in HNT, UNI, and ORDI.