Uniswap (UNI/USD) Market Continues to Correct Below $6.50
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Uniswap Price Prediction – March 23
The UNI/USD market continues to correct below $6.50 in a less-active motion not too worthy of attracting positions placement. Today’s hours have between a high point of $6.2048474 and a low of $6.0344419 at an average percentage rate of 1.86 positives. It suggested that buyers may want to make numerous attempts to break through the $6.50 barrier to test it before starting another downward movement.
UNI/USD Market
Key Levels:
Resistance levels: $6.50, $7, $7.50
Support levels: $5.50, $5, $4.50
UNI/USD – Daily Chart
The UNI/USD daily chart reveals that the crypto-economic market continues to correct below the $6.50 resistance line. The Stochastic Oscillators are to close their lines northbound at 76.16 and 79.63 levels. The 14-day SMA trend line is at $6.2848641 beneath the $6.3096301 value of the 50-day SMA trend line. There is a formation of a smaller bullish candlestick, showing a re-occurrence of a rise below the value point in question.
Could the UNI/USD market bulls continue to struggle to maintain above the $6.50 resistance level?
We think that the UNI/USD market bulls may not be able to sustain struggling to push over the $6.50 based on its current buying capacity, as depicted on the chart, even though the price continues to correct below the $6.50 resistance line. In pursuit of such an uprising outlook, an aggressive motion aimed at the point’s breakout will likely provide a quick-gaining move that might not withstand the test of sustenance.
If that’s the case, none of the two big market movers will benefit from an easy time obtaining respectable or dependable entries. On the depreciation side of the technical analysis, the UNI/USD market bears are to possess positions firmly against bulls, especially around $6.50. In the meantime, likely, the market may not be pushing in a definite direction far away from its present trading axis.
UNI/BTC Price Analysis
Uniswap is yet to decide when to swing up against the pushing force of Bitcoin. The pairing crypto market continues to correct far below the SMA trend lines. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators are in the oversold region, moving in a consolidation. And their levels are 13.42 and 17.33. It suggested that despite the prolonged slump, bulls would still need some time to recover before resuming their upward trend.
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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