Crypto Price Analysis June 27: UNI, MATIC, LINK, ETC, STX

Key Insights:

• Uniswap and Polygon led the drawdown of altcoins.
• Stacks (STX) was one of the few to still close in green yesterday.
• Bitcoin and Ethereum continued to trade at around $20.8k and $1.2k, respectively.

After observing a few good days and breaching above the $900 billion mark, the crypto market declined by 2.54% yesterday, wiping out almost $24 billion.

Bitcoin and Ethereum followed in the footsteps of the broader market trend and dropped as well, trading at $20,831 and $1,197, respectively.

Uniswap (UNI)

Uniswap managed to climb the charts and recover June’s losses last week with a 54.27% rally but failed to breach the month and half-long resistance level of $5.85. After falling by 5.2%, the DEX token could be noted trading at $5.32.

However, the altcoin still has some room for recovery as the Awesome Oscillator hasn’t exhibited bearishness yet.

Polygon (MATIC)

At the time of writing, MATIC had already lost almost 12% of all its recovery from the week before when the DeFi token had climbed the charts by 75.64%.

Regardless, the altcoin was nowhere near its critical resistance of $0.6758, which has kept the coin under it since mid-May.

Additionally, the diverging Bollinger Bands are indicating reducing volatility which means MATIC might note lower price swings. And with the bias in support, the drawdown might slow down.

Chainlink (LINK)

The oracle blockchain token, LINK, observed a price fall of 9.64% from yesterday’s highs after witnessing a 12-days long rally of 22.68%.

As it is, this recovery wasn’t enough to invalidate the 36.1% crash of this month, and the altcoin is back to trade at the price it was at the beginning of the month.

The downtick noted on the Chaikin Money Flow further confirms that the price fall was organic since the outflows took the indicator into the negative zone.

Ethereum Classic (ETC)

The Ethereum hard fork managed to trend against the rest of the market and kept its recovery going marking a 23% rise in 8 days. While it is nowhere near invalidating the 44.88% decline, it is halfway there.

Plus, recently, the coin also witnessed a bullish crossover on the MACD, which could further support the rise further.

Stacks (STX)

Following in the footsteps of ETC, Stacks managed to close a rise of 12.09%, bringing the 10-day long rally to 37.68%. This single-day rise brought it closer to invalidating the 41.37% dip of June.

On top of that, it also placed the RSI right at the cusp of entering the bullish zone, an area that it hasn’t accessed since the beginning of April.