Uniswap (UNI/USD) Price Appears, Getting Exhausted Nearing $6
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Uniswap Price Prediction – January 5
A closure-technical point, UNI/USD price appears, getting exhausted and nearing the $6 resistance line. In the bid of the crypto economy making efforts to grow in its valuation, activities have had positive figures of trading between $5.5585563 and $5.4930103 at a minute percent of 0.24.
UNI/USD Market
Key Levels:
Resistance levels: $6, $6.50, $7
Support levels: $5, $4.50, $4
UNI/USD – Daily Chart
The UNI/USD daily chart showcases the crypto’s price appears, getting exhausted as it is nearing the $6 level. It has managed to push northward past the smaller SMA trend line. The 14-day SMA indicator is at $5.4235945 below the $5.8921946 value line of the 50-day SMA indicator. The Stochastic Oscillators have deepened their presence in the overbought region, keeping 100 and 100 levels to indicate that a bullish-pushing force has reached its peak.
Will the UNI/USD market bulls surrender to an ascending-trading pattern soon below $6?
Strong indications have been piling in the UNI/USD trade operations to denote the possibility of the market succumbing to a near-declining pressure as the price appears, getting exhausted as nearing the $6 resistance level. To that end, long-position placers, at this point, are required to stop thinking of launching a fresh-buying order position. If there will be any need to make a come-back, the Stochastic Oscillators will have to be at lower levels to re-point back to the northward direction to do so afterward.
On the negative side of the technical picture, it is necessary to wait for the appearance of a bearish candlestick between or around the $5.50 and $6 levels before reconsidering placing a sell order. And it seems that presumed assumption isn’t going to be far-fetched. To ensure the highest level of decency, sellers must support their order execution with an active price force.
UNI/BTC Price Analysis
Uniswap price appears, getting exhausted, as nearing a resistance zone close over the bigger-SMA trend line as it pairs with the trending velocity of Bitcoin. The 14-day SMA indicator is around below the 50-day SMA indicator. The Stochastic Oscillators have traveled into the overbought region, maintaining the same level at 100. That implies that base crypto is more vulnerable to succumbing to a devaluation process against its counter-trading crypto in no time.
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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