Bitcoin Cash, Uniswap, Stellar Price Analysis: 11 May

ambcrypto.com:

The recent market-wide liquidations kept the broader sentiment within the bonds of ‘extreme fear’ for a week now. Bitcoin Cash, Uniswap, and Stellar were susceptible to this sentiment as they took a significant plunge towards their yearly lows over the past two days.

Should the buyers continue to dwindle, further devaluation below the key support levels would only aggravate the intensity of fear.

Bitcoin Cash (BCH)

Source: TradingView, BCH/USDT

After the sellers flipped the $387-mark from support to ceiling, BCH bounced between $260 and the above mark for over four months. The recent bear run pulled the altcoin below its long-term trendline resistance (white) (previous support).

The reversal from the $335-level paved the way for a 39.41% drop that propelled a plunge toward its 19-month low on 10 May. The bulls needed to defend the $210-$217 zone to prevent a major fallout.

At press time, BCH traded at $221.9. Drifting near its oversold lows, The RSI’s recent movements have revealed a substantial uptick in selling pressure. Furthermore, the MACD and the Signal lines refused to undertake a bullish crossover, while the bears refused to give up their edge.

Uniswap (UNI)

Source: TradingView, UNI/USDT

Since the bulls lost their previous floor at the $15-mark, UNI found an oscillation range between the $7.5-$12.5 mark over the last three months. The bull run from its January lows touched its multi-week high on 31 March.

Since then, the bears took over to initiate a whopping 54.95% until press time as UNI finds itself matching its 15-month lows. Needless to say, the southbound Supertrend depicted a bearish advantage. An extended retracement could find a testing zone at the $5.2-mark.

At press time, the alt was trading at $5.55. After