Uniswap (UNI/USD) Price Decreases, Averaging the $4 Support
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UniswapPrice Prediction – May 12
The financial book of record has it that the UNI/USD market price decreases, averaging $4 in compliance with the counter’s currency purchasing weight over most of the valuable cryptos over the time. Price is now trading between $5 and $3 value lines, keeping a negative percentage rate of 7.28.
Resistance levels: $6, $8, $10
Support levels: $4, $3, $2
UNI/USD – Daily Chart
The UNI/USD daily chart s shows the crypto-economic market price decreases, averaging the $4 trading level underneath the trend lines of the SMAs. The 14-day SMA indicator is beneath the 50-day SMA indicator. The bearish trend line drew southward over the smaller SMA. The Stochastic Oscillators have slightly dipped into the oversold region. And they still point to the downside within it.
Will the UNI/USD trade slip further past $4 in this current downing process?
At a closely technical glance of trading, it is likely the UNI/USD slip further briefly past the $4 as the crypto-economic decreases, averaging it presently. Bulls may be taking time, making a preparation around the value-line for some time before staging a comeback. Long-position traders would just have to be patient in their trading approach to the crypto economy by not taking multiple buying orders that will overburden their equity to the extent of running into a margin call state afterward.
On the downside of the technical analysis, the UNI/USD market short-position traders may continue to play safer by joining the current downward trend when the price makes a fake pull-up at a particular point in time, coupling with an active reversal in a quicker mode to consider joining the move down back to a point. Nevertheless, it is usually note-worthy to always keep the investment trait in mind while the market dips. And, the dipper the price the better advantage it provides investment opportunities.
UNI/BTC Price Analysis
In comparison, Uniswap market stance is downing in positions, trading against the pushing capacity of Bitcoin. The cryptocurrency pair decreases, averaging a lower trading level below the SMA trend lines. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators have crossed southbound from the overbought region, close to the lower range line around 40. A bearish candlestick is in the making to specify the potency of seeing the base crypto downing more as it is paired with the flagship counter crypto.
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