Polkadot, Uniswap, AAVE Price Analysis: Feb 28

While Polkadot, Uniswap and AAVE recovered from their multi-month low on Feb. 24, wider sentiment has taken a dive into the extreme fear zone at the time of writing. Uniswap showed promising signs as it hovered around the upper band of its Bollinger Bands. But like AAVE, Uniswap depicted a weak directional trend.

Polka Dot (DOT)

Source: TradingView, DOT/USDT

Since his ATH in November 2021, DOT bears have kept the bulls from turning the tide in their favor. The alt fell more than 74% (as of Nov. 4) when it moved to its seven-month low on Feb. 24.

The recent bearish rally marked a down channel as the alt aimed to 20 SMA (red). In recent days, the alt has regained the vital $16 after breaking out of the channel. If the bears secure a close below the $17 level, a further retest of the $16 support would be likely.

At the time of writing, the DOT was trading at $17.12. The RSI dropped nearly 15 points in the past day. The bulls had to defend the 47 support to avoid a possible fallout. Furthermore, the Volume Oscillator is in a downtrend, showing that the recent breakout needed even more thrust to find a sustained close above the 20 SMA.

Uni swap (UNI)

Source: TradingView, UNI/USDT

Since losing the $15.3 mark, UNI bulls have been unable to propel a trend-changing rally. The alt was down 53.09% (as of January 21) and reached its one-year low on February 24.

Since then, UNI has started a 35.5% recovery, crossed the top band of the Bollinger Bands (BB). As a result, it changed BB’s average from resistance to immediate support. As the bulls continued to test the upper band, purchasing power increased.

As of going to press, the alt was trading at $9.77. After picking himself up from the crucial 46 point level, RSI swung above the centerline and continued to face a barrier at the 60 mark. Also the DMI lines confirmed the bullish edge. But the ADX showed a weak directional trend for UNI.

AAVE

Source: TradingView, AAVE/USD

After the up-channel (green) breakdown, bulls lost their lead and failed to even defend the $139 resistance (previous support). The alt lost more than 40.57% (as of Feb. 10) of its value, reaching its 13-month low on Feb. 24.

Since recovering from the $112-$115 range, AAVE broke out of the down channel (white) trying to challenge its resistance. Meanwhile, the super trend enter a green zone by favoring the buyers.

At the time of writing, AAVE was trading at $135,199. The RSI failed to hold itself above the midline after a bearish divergence with price, but has continued to show promising signs of rebound in recent hours. Also the OBV matched the recent slope while maintaining its support. But like UNI, AAVE showed a weak ADX after taking a sharp plunge in the past five days.

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