Altcoin Uptrend Hits Resistance as Unibase Leads the Pack

Three top altcoins, Unibase (UB), Cardano (ADA), and Algorand (ALGO), have shown impressive gains in early August, with UB leading the pack at a 61% weekly increase.

UB's rally began on July 17, when it broke above a long-term descending resistance line. Since then, it has gained around 140%, printing clean higher highs and lower lows on its daily chart.

The price of UB now faces a crucial test at the $0.1928 level, which coincides with the 0.236 Fibonacci retracement (Fib) level. If buyers can flip this area into support, the next target would be the April peak at $0.2466.

However, declining volume and an RSI near overbought territory raise concerns about the strength of UB's uptrend.