Uniswap (UNI/USD) Market Trades in Range-Bound Zones
November 25, 2021
Uniswap Price Prediction – November 25
It observed that the UNI/USD market trades in range-bound zones of around $25 and $20. The crypto-economic price currently trades at the $20 lower range line at a percentage rate of 0.54 positive. It appears that the trade activity has pushed to enter lower-trading zones to allow long-term investors to get repositioned.
Resistance levels: $25, $29, $34
Support levels: $18, $16, $14
UNI/USD – Daily Chart
The UNI/USD daily chart shows that the crypto-economic market trades in range-bound zones marked at $25 and $20. Over time, variant erratic trading candlesticks have emerged around the higher value line. The indicators are around the upper range-bound spot as the 14-day SMA trend line has slightly crossed the 50-day SMA trend line to the south side. The Stochastic Oscillators have moved upward closely beneath the 80 range. That suggests that the market seems not garnering energy to surge firmly to the north.
What should be the UNI/USD traders’ approach currently as the market trades in range=bound zones?
The UNI/USD traders’ approach currently could be to exercise some degrees of patience as even that the crypto-economic market trades in range-bound zones, around the lower level. Presently, it is seemingly un-technically safe enough that long position takers launch an entry on a short-term basis. More precautious times still needed to observe the force weight that will suffice a return of upswings afterward.
On the downside of technical analysis, the UNI/USD market short position takers still stand the chance of intensifying pressures underneath the sell signal sides of the SMA trend lines in a bid to prolong the current lower-trading situation beyond the lower range level afterward. The moving-force pace kept by the Stochastic Oscillators to the upside range lines indicates that a minute active motion is in the card. So, therefore, quick returning of genuine upward price movements may not achieve in the near session.
UNI/BTC Price Analysis
In the comparison, the trending force of Uniswap, as the base crypto against its counter crypto- Bitcoin appears going, bearish as the cryptocurrency pair market currently trades in range-bound zones over a couple of operations beneath the trend lines of the SMAs. The 14-day SMA indicator has intercepted the 50-day SMA indicator from the top to the downside. The Stochastic Oscillators are in the overbought region, slantingly pointing to the southbound near above the range of 80. That portends that the base crypto may still move, declining in strength as paired with flagship counter crypto-coin in the subsequent trading activity.
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