Uniswap (UNI/USD) Price Hits Resistances, Trading Above $9
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Uniswap Price Prediction – February 29
An aggressive upsurge has occurred in the exchanging lines of Uniswap versus the market valuation of the US coin as the price hits resistances in the overhead barrier points between $12 and $13.
The price is reversing an upward surge that occurred on February 23rd, trading at roughly $10.93, indicating that a price convergence has been achieved. That careful-reasoning idea suggests that traders should use caution when taking any kind of position. However, purchasers might stick to their long-term investing strategy.
UNI/USD Market
Key Levels:
Resistance levels: $13, $14, $15
Support levels: $9, $8, $7
UNI/USD – Daily Chart
The UNI/USD daily chart reveals that the crypto market hits resistances between the points of $13 and $12, trading above $9.
A long bullish-engulfing candlestick has surfaced to give a crypto signal that would provide for getting a buy pathway back to higher points above the zone of $13, given that the Bollinger Band indicators have been firmly outstretched to the north side. The stochastic oscillators have continued to place northwardly around the point of 80, swerving mostly into the overbought region.
What is the critical underlying trade line to the current trade style of the UNI/USD market?
More focus has to shift to the underlying support line of $9 because if the price tends to intensify moves to break downward past it, it will lead to more lows, given that the UNI/USD market hits resistances between $13 and $12, trading above the point earlier mentioned.
For the bulls in the UNI/USD market, a crucial line of technical analysis is that the $9 support level hasn’t been decisively broken to the south. In the long run, the trading line might be the place to return to a favorable entry point for upswings in an effort to eventually surpass the previous high barrier spot.
Given the minor inclination in the upper Bollinger Band trend line, a shield is probably going to emerge beneath the $13 resistance line. Additionally, sellers will benefit from some points of entry adjacent to the confluences if that assumption proves to be accurate. Pushes that might break out against the value line should cause sellers to exercise caution.
UNI/BTC Price Analysis
In contrast, the Uniswap market hits resistance at the top of the upper Bollinger Band against the worth of Bitcoin, trading above the middle Bollinger Band trend line.
A pattern of bearish candlesticks has developed over the course of a few days, suggesting that the base cryptocurrency is in reversion mode. The Bollinger Band trend lines have expanded significantly to the upside, indicating the formation of some forces that will improve the pairing instruments’ long-term prognosis. The stochastic oscillators have moved toward the south, approaching the 40-point. It appears from the indicators that purchasers should exercise caution while making new purchases at this time of writing.
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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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