Uniswap (UNI/USD) Market Swings Up From $5, Converging at $5.50
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Uniswap Price Prediction – July 6
In the vein of establishing a change of market direction, the UNI/USD market has been gradually gaining stances toward a bullish market cycle as it swings up from around the $5 sequence to a necessary correction as it is converging around the $5.50 with a positive sign attempt to surge higher afterward.
In the last couple of days, the gravitational forces that have been summed up by bulls have given birth to trade situations that encounter rejections closely beneath the resistance of $6. In today’s session of this technical write-up, transaction zones have been centered between $5.5387884 and $5.3594851 at a positive percentage rate of 2.18.
UNI/USD Market
Key Levels:
Resistance levels: $6, $6.50, $7
Support levels: $4.50, $4, $3.50
UNI/USD – Daily Chart
The UNI/USD daily chart showcases the crypto-economic market swings up from $5, converging at $5.50 with more active and promising pushes to the north side.
Presently, the 14-day SMA indicator is at $5.0977127, above the $5.2644519 line of the 50-day SMA indicator. Over the last few days, the Stochastic Oscillators have remained swinging between 40 and 80 levels to place at 66.66 to 60.27 points as a smaller bullish candlestick has formed to indicate that a buying motion is in place.
Can the buyers on the UNI/USD market sustain their recent advances beyond $5.50?
A northward-crossing section of the 50-day SMA by the 14-day SMA is highly required for confirmation of the possibility of seeing the UNI/USD market buyers pushing beyond the point of $5.50, given that the crypto market has swung up from the $5 line, converging around the value formerly mentioned.
As regards the probable factor that could lead to further running to the north, buyers are enjoined to make the trending path of the 14-day SMA their base to get the conditions for decent re-buying entries.
On the side of nullification of upside pushes, the UNI/USD trade sellers would be putting in more consistent efforts to create a depressing moment against rises toward the resistance point of $6. Like being the usual thing, it would be psychologically inclining to take a complimenting order outlook between a 4-hour and a 1-hour chart denoting an overbought case before considering pressing the button for a shorting position.
UNI/BTC Price Analysis
In contrast, the Uniswap market has swung up from a lower-trading spot, converging at the high trade axis against Bitcoin closely over the trend line of the smaller indicator.
The 50-day SMA indicator is over the 14-day SMA indicator. The placement outlook of the bigger trend line suggests the base cryptocurrency price is yet to pull out of the risk of dumping motion. The Stochastic Oscillators have penetrated the overbought region and moved from 87.70 to 86.55. At this point, volatile action is required in the market to observe the genuine direction to follow.
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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