Uniswap (UNI/USD) Market Retains Weak Rallies
December 1, 2022
Uniswap Price Prediction – December 1
In line with what has been playing out in the UNI/USD trade operations, the crypto market retains weak rallies below the $7 resistance line. As of the time of writing, price features between $5.8782568 and $5.8132399 at a minute negative average percentage rate of 0.76.
Resistance levels: $7, $7.50, $8
Support levels: $5, $4.50, $4
UNI/USD – Daily Chart
The UNI/USD daily chart showcases the crypto market retains weak rallies underneath the $7 resistance level. At the $5 support level, a horizontal line is drawn below the indicators. The 14-day SMA trend line is at $5.7923075, beneath the $6.2700571 value line of the 50-day SMA trend line. The Stochastic Oscillators have veered northward from levels between 40 and 65.27 and 89.27 to determine the strength of the current market forces,
Will the UNI/USD trade continue to gain momentum through resistances above the 50-day SMA’s point?
Although there has been the possibility of getting lower highs in the UNI/USD trade operation’s subsequent sessions as the crypto market retains weak rallies underneath the $7 resistance level. It has been a gradual setting that buyers’ reactions are running into a low-active consolidation mode below the value line. At the moment, it would be hard to get a relaunch by buying an entry. Therefore, longing orders need to suspend for a while.
On the downside of the technical analysis, sellers in the UNI/USD market operation will have to base their entering psyche on what could be the outcome of the Stochastic Oscillators in the overbought region. In other words, we shall be waiting for the repositioning of the tool to point toward the south for confirmation of declining motion resumption afterward before embarking on a sell-off time.
UNI/BTC Price Analysis
In comparison, Uniswap has continued to hold positions tightly around the buying signal of the SMA trend lines against Bitcoin over a couple of times. In the meantime, the pairing crypto market retains weak rallies closely over the indicators. The 14-day SMA is near above the 50-day SMA. The Stochastic Oscillators have crossed northbound from the oversold region to 42.17 and 70.77 levels. That suggests the base cryptocurrency may rise further relative 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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