- Many expect the SEC to grant its approval for a spot BTC ETF this week.
- Ahead of a potential approval, a group of altcoins have begun to gain traction.
- They include UNI, VET, SUSHI, MATIC, and BAND.
With many anticipating a potential spot Bitcoin exchange-traded fund (ETF) approval this week, here Uniswap [UNI], VeChain [VET], SUSHI, Polygon [MATIC], and BAND are some altcoins poised for a rally.
Uniswap [UNI]
UNI exchanged hands at $6.41 at press time, according to data from CoinMarketCap. In the last 24 hours, the alt’s value has risen by 5%. The alt’s price assessed on a weekly chart showed a steady accumulation amongst spot market participants.
UNI/USDT 7-Day Chart (Source: TradingView)
Readings observed from key momentum indicators showed that buying pressure exceeded token sell-offs. For example, UNI’s Relative Strength Index (RSI) was 56.31, while its Money Flow Index (MFI) was 83.78. At these values, these indicators showed buying momentum was higher than selling pressure. Should sentiment remain, UNI’s price may be due for a rally this week.
VeChain [VET]
While the genera…
The post 5 Altcoins to Watch Next Week: UNI, VET, SUSHI, MATIC, BAND Lead the Charge appeared first on Coin Edition.