Uniswap (UNI/USD) Price Remains Stable in a Retracement Order
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Uniswap Price Prediction – December 23
Despite a struggle in the UNI/USD market operations to resume a high-swinging move, the crypto’s price remains a stable in retracement order near the $5 support line. Trading activities have maintained a negative percentage rate of 2.16 to bargain around the $5.25 value line as of writing.
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 reveals the crypto-economic price remains stable in retracement order close to a lower-trading spot of the $5 support level over a couple of sessions. The 14-day SMA indicator is at $5.6653758 below the $6.0857492 value line of the 50-day SMA indicator. The Stochastic Oscillators have moved from the oversold region toward the 40 levels. And they are attempting to cross their lines at 32.78 and 29.97 levels to indicate that bearish moves have not ended yet.
Will the $5 support level of the UNI/USD market soon see another downturn pass through it?
Making it more likely that the bearish trend will continue in the UNI/USD trade, a candlestick must appeal against the $5 level, breaking it through several lower support levels as the price remains stable in a retracement order. Long-position placers would now need to take action based on what the stochastic oscillators predict will happen in the future, which will be against the current posture and in favor of heading back north. But they have to be patient for a while.
On the downside of the technical analysis, as of this analytical-reading outlook, there is a less-active force to sustain the possible negative result that the UNI/USD market bears will obtain if bulls even tend to lose momentum close over the $5 support level. A sudden breakdown can be liable to coupling with a quick bounce, leading the situation to a bottom-shadow trading candlestick. And if that presumed scenario materializes, sellers will be at a higher risk of losing positions to the upswings.
UNI/BTC Price Analysis
In comparison, Uniswap’s pushing catalyst kept below the trend lines of the SMAs against Bitcoin. The pairing crypto market remains stable in a retracement order close to the lower horizontal line drawn. The 14-day SMA indicator has curved closely to the 50-day SMA indicator to signal that a pit stop would soon take over the market area for some time. The Stochastic Oscillators first struggled northbound from the oversold zone to 23.83 and 21.29 levels to close the lines to align with the reading of the SMAs.
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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