Crypto Technical Analysis of Algorand, dYdX & Uma for 07 May 2022

Crypto Technical Analysis of Algorand, dYdX & Uma for 07 May 2022

Crypto Price Today

Crypto Price* %Change(Previous Day) Market Cap** Circulating Supply***
Algorand(ALGO) INR 52.98 +7.1% INR 462 Cr 6,733,971,628 ALGO
dYdX(DYDX) INR 262.25 +4.6% INR 2.23Cr 65,569,295 DYDX
Uma(UMA) INR 425.97 +7.5% INR 3.66Cr 66,151,821.83 UMA

* Price **Market Cap ***Circulating Supply as of 07 May 2022, 8 am

How High Algorand (ALGO) Price May Reach Today?

Source: Tradingview

  • The ALGO price in the short-term is displaying a couple of possibilities of breaking from the consolidation and ranging high
  • The price initially has formed a double bottom pattern and woefully consolidating along the trend line, hence a brief breakout may be expected after an accumulation
  • On the other hand, the price is approaching the apex of the bullish flag which may explode, pulling a notable leg up very soon
  • With either of the breakouts, the price may range high to end the day’s trader around INR 56.6 to INR 57.4.

Check out the Latest Prices, Charts, and Data of  ALGO/USDT.

How High Will DYDX Price Reach Today?

Source: Tradingview

  • The DYDX price after the recent price slash maintained a small consolidation and further attempted a jump
  • However, the price after the spike is consolidating in narrow ranges and within a rising channel
  • The price may continue with the ascending consolidation until the end of the day as it is yet to reach the apex of the channel
  • Therefore, the price may reach above INR 270 by the end of the day’s trade and may experience a minor rejection below INR 260, but only for a short period.

Check out the Latest Prices, Charts, and Data of  DXDX/USDT.

How High Will UMA Price Reach Today?

Source: Tradingview

  • UMA price with a quick rebound from the lower support within the rising parallel channel displayed a strong bullish momentum 
  • The uptrend may continue slowly yet steadily and eventually may attempt to test the upper resistance
  • The price may consolidate along with the middle levels for some time and as the day’s close approaches, may head towards the upper resistance
  • The asset may not slice through these levels as the required buying volume is absent but could stick to the levels close to INR 450.

Check out the Latest Prices, Charts, and Data of  UMA/USDT.

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Read recent price predictions on:

  1. Shiba Inu Price Prediction Weekly
  2. JASMY Price Prediction Weekly

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.

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