Uniswap (UNI/USD) Market Activity Dumps at $30
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Uniswap Price Prediction – August 19
The UNI/USD market activity dumps a trading position around $30 to feature at a lower $26. The crypto economy’s percentage rate is about -0.75. The present decline seems to have a heavyweight to push price downward further.
UNI/USD Market
Key Levels:
Resistance levels: $30, $33, $36
Support levels: $23, $21, $19
UNI/USD – Daily Chart
The UNI/USD daily chart reveals that the crypto market activity dumps valuation after several failing efforts made to move northward further around the level of $30. The dumping of market valuation visibly inclined during the August 16th session and got intensity on its following day. Between 18th and until today, the crypto’s price appears to relax motion. The bearish trend-line drew in a supportive manner alongside the 14-day SMA indicator above the 50-day SMA indicator. The Stochastic Oscillators have freshly penetrated the oversold region, signifying that some degrees of downward forces are relatively ongoing.
As the UNI/USD market activity dumps at $30; could there be a continuation of downward price movement?
In the meantime, there is every possibility that the UNI/USD’s price continues downward movement as the market activity dumps at a higher point of $30. The impact of the current downward motion appears not done as of writing. Therefore, bulls may have to wait for trade setting to project a strong support signal for tan upward movement.
On the downside, the crypto economy has presently given in to a notable decline at a higher trading zone at $30. The current strong support line at $25 is at risk of breaching southward further. However, the price may still pause for a while. If less active motion comes to play out, a consolidation movement tends to be the order that the crypto economy will keep. Further fearful dump at the point mentioned formerly will lead to a revisit of the lower trading zone, probably around $20.
UNI/BTC Price Analysis
There is an emergence of a bearish candlestick signaling that the duo-crypto market activity dumps trending capacity. In other words, the base crypto loses stance pairing with the counter crypto. The 14-day SMA trend-line has tightly curved southward against the 50-day SMA trend-line. And, the bearish trend-line drew over them to mark the higher point that the market reaches. The Stochastic Oscillators have moved southbound freshly into the oversold region, indicating the UNI may still go down further in trending weight as placed with BTC.
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