Crypto Price Analysis July 14:SNX, MATIC, UNI, GALA, MKR

Key Insights:

• Synthetix was one of the best performing coins of the day, rising by 10.64%.
• Gala dealt with the bearishness of the market, falling by 3.42%.
• Bitcoin and Ethereum continued oscillating at $19k and $1k.

The crypto market made day traders happy yesterday as it shot up by 4.4% recovering $37.7 billion, with the help of the altcoins.

But the king coin and the altcoin king made no contribution as they remained consolidated at $19,727 and $1,080, respectively.

Synthetix (SNX)

As one of the leaders of the rally for today, SNX marked a 10.64% rise to trade at $2.56. However, this doesn’t do much for the altcoin, which is yet to recover the losses it witnessed in June.

The Awesome Oscillator, however, does not seem to be supporting a further rise with the bullishness dominating the indicator, which could keep SNX consolidated.

Polygon (MATIC)

The DeFi chain’s native token had a similar albeit better day noting a 17.64% growth in the last 24 hours despite observing a red candle today.

Trading at $0.63, MATIC still has room for growth given the diverging Bollinger Bands highlighting rising volatility in the upwards direction as the candlestick stands above the bias.

Uniswap (UNI)

The Decentralised Exchange’s token fared well despite the bearishness rising by 13.3%. This rally helped UNI recover almost all of its 14.33% depreciation this week.

The Chaikin Money Flow indicates that the current rally is organic, with inflows coming from investors, as is visible with the uptick.

Gala (GALA)

GALA, trading at $0.047, is 3.42% below yesterday’s opening price, but on a larger scale, it is still in a downtrend. Having lost the $0.05 mark, GALA is now looking at $0.04 as its next critical support.

And there are fair chances that the altcoin might end up reaching it since the MACD is highlighting the beginning of a bearish crossover on the charts.

Maker (MKR)

MKR has been stuck in the bearish zone for more than three months now, as visible on the Relative Strength Index (RSI) since the selling pressure has been dominating the altcoin.

Trading at $827, MKR is inching farther away from the $1000 mark, thanks to the 17.12% fall over the past four days.