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Crypto SnippetMarch 3, 2021

Crypto Snippet - March 2021

Neeraj Thakur
March 3, 2021
What's in this post?
    Crypto Snippet is a brief overview of the crypto market; focused on Derivatives. This is not financial advice.

    Crypto Pair: ETH-USDT

    Date: 8th March 2021

    Market has been moving in a tight range and consolidating after a strong rally in Jan and Feb. One can expect a sharp move when we break out of the range.

    ETH looks interesting with its price holding above the 20 DMA. We have been trading in the $1400 – $2000 range for some time now and a breakout above $2000 can push ETH to $2600 levels very quickly.

    ETH - USDT

    Trade ETH-USDT on Delta.


    Crypto Pair: UNI-USDT

    Date: 3rd March 2021

    We have seen sharp recovery in DeFi names in the last few days. DeFi has been the key sector for this bull run and has led the rally every time after a pull back. One of the names to watch out for in the DeFi space is Uniswap.

    UNI has bounced sharply from its 20 DMA and may challenge its ATH in the coming days to break higher to the $40 mark On the downside $20 remains strong psychological support for UNI and we should see buying come through at those levels.

    UNI - USDT

    Trade UNI-USDT on Delta.


    Crypto Pair: XEM-BTC

    Date: 1st March 2021

    We have seen a broad based correction in the crypto markets over the last week. BTC is down about 20% from ATH, ETH about 30% and other alts have also pulled back significantly. Such corrections are normal in a bull cycle and generally end up in a consolidation before the next leg up.

    There are still coins where bullish activity continues and positive news flow is driving the prices higher. XEM is seeing a lot of takers as the coin continues to rally ahead of the upcoming Symbol snapshot on the 12th of this month. We are trading close to yearly highs on XEM and can see it break past the 1400 satoshi mark to challenge the 2019 highs of 2000 sats and 3000 sats subsequently. In the wake of the upcoming snapshot, chances look slim that XEM is going to slip below 1000 satoshi in the short term.

    XEM - BTC

    Trade XEM-BTCon Delta.

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