Cryptocurrencies Price Prediction: Ethereum, Uniswap & ETFs — Asian Wrap 18 June
|Ethereum resumes downtrend as Canada sees another staked ETH ETF launch
Ethereum (ETH) resumed its downward trend on Monday after a slight weekend recovery following the launch of the Canada-based Purpose Investment Staked ETH ETF.
Uniswap could face short-term correction on bearish divergence, rising supply on exchanges
Uniswap (UNI) price encounters resistance near the weekly level of approximately $12 and retraces more than 8% on Monday. On-chain metrics indicate a rising supply on exchanges and declining development activity, hinting at a potential formation of a local top. Additionally, technical indicators show a bearish divergence on momentum indicators, signaling the possibility of a forthcoming downturn in Uniswap's price.
Crypto ETFs experience heavy outflows after FOMC meeting
Crypto ETFs experienced heavy outflows totaling $621 million in the past week, potentially spurred by the Federal Reserve (Fed) keeping interest rates steady, according to the CoinShares weekly digital asset report on Monday.
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