Uniswap (UNI/USD) Market Retains Positive Momentum
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Uniswap Price Prediction – November 3
The Uniswap market operation retains positive momentum against the valuation of the US Dollar as the trading situation is characterized by variant higher lows. Over some hours of trading into today’s sessions, the crypto’s worth has been between the high and the low of $7.40 and $7.05 value lines at an average percentage rate of 2.14 positive.
UNI/USD Market
Key Levels:
Resistance levels: $8, $8.50, $9
Support levels: $6, $5.50, $5
UNI/USD – Daily Chart
The UNI/USD daily chart reveals the crypto market retains positive momentum in a lighter-serial form over the trend lines of the SMAs. The 14-day SMA is at 46.64 over the $6.63 value line of the 50-day SMA, indicating a brief crossover point between the trading indicators. The horizontal line drew at the $5 support level as the bullish trend line spanned from it to mark the strategic points from the below to the upsides. The Stochastic Oscillators are beginning a brief series of swing actions as they position at 87.83 and 94.16 range values, indicating that they are overbought.
At what point will the UNI/USD market experience a total change of direction?
As it is, the UNI/USD market operation retains positive momentum in a lighter-stylish trading moaner that doesn’t even give a tangible buying entry on the daily chart time frame. The consolidation of motions by bulls in the market may continually produce the same result that will allow those long positions already taken to add some points to their values. But, the moment a bearish candlestick emerges to engulf up to about two penultimate bullish candlesticks, buyers will have to desist from launching more buying orders afterward.
On the downside of the technical analysis, sellers in the UNI/USD market activities have to be cautious until a pattern suggesting total exhaustion of buying signal has been exhausted before considering the re-launching of a sell order. We are looking for an active move toward the $8 resistance level coupling with a retracement to denote that the bears are preparing for a come-back in the presumed process afterward.
UNI/BTC Price Analysis
In comparison, Uniswap has enhanced pushing northward against the trending ability of Bitcoin over a couple of sessions as the former trading instrument retains positive momentum. The 50-day SMA indicator is near to crossing the 14-day SMA indicator, which indicates that the paired crypto trade is heading upward. In the overbought area, the Stochastic Oscillators have slid northward, hitting values between 90.87 and 100. That shows that the base crypto has reached a point where it is no longer irrelevant to the counter-trading cryptocurrency.
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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