Uniswap (UNI/USD) Market Corrections Continue to $6
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Uniswap Price Prediction – March 9
There has been a predominance of loss of momentum in the UNI/USD trade activities as the crypto market corrections continue to the $6 support line. A minute positive percentage rate of 0.53 was now seen, with the price fluctuating between the value lines of $6.1984853 and $6.0606307. A downturn reversal with an active motion could result in further debasement in a low-moving mode against the subject point from the perspective of closing technical trading.
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 shows that the market corrections continue to the $6 support level. The reason for drawing the bullish trend line below the SMAs is that the trending picture is still favored. The 14-day SMA indicator is at $6.5096232, somewhat trying to bend southward above the 50-day SMA indicator, which is at $$6.3725499 point. The Stochastic Oscillators are swinging eastwardly at 24.21 and 17.39 levels.
When will the current adjustments to the UNI/USD market activities end?
When the UNI/USD market corrections continue below the $6 support level, there will be additional opportunities for debasement in the UNI/USD trading transactions. The 14-day SMA’s position above the 50-day SMA suggests that there may be a downward crossover between them to confirm the requirement for settling for a lower-trading spot of support forming in the following session.
On the devaluation-moving side of the technical analysis, it acknowledged to some extent that some lows may play out below the points of the SMA trend lines in the nearest future, especially while bulls fail to break out through those points. Even if that assumption materializes, sellers should be wary of catching on to an active motion lately to avoid any sudden rebound that can as well play alongside in no time.
UNI/BTC Price Analysis
Uniswap’s trending capacity, contrasted with Bitcoin, is still somewhat losing weight as the pairing crypto-economic market corrections continue around the bearish path of the smaller SMA trend line. The 14-day SMA indicator is underneath the 50-day SMA indicator. And they are pointing to the south side. The Stochastic Oscillators are around 80, maintaining 76.82 and 774.99 levels. It seems that a line of variant lows may potentially surface. Bulls are, therefore, anticipated to continue taking their time to establish their baselines.
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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