Uniswap (UNI/USD) Trade Is Trying to Find Support at $6
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Uniswap Price Prediction – September 1
A pit stop appears to play out in the UNI/USD market operations as the crypto trade is trying to find support around the $6 line some days back. The market’s percentage rate is at 1.67 negatives, trading around the $6.04 value line.
UNI/USD Market
Key Levels:
Resistance levels: $7, $8, $9
Support levels: $5, $4, $3
UNI/USD – Daily Chart
The daily chart portrays that the Uniswap trade is trying to find support around the $6 trading level after a chain of corrections formed downward across the trend lines of the SMAs. The 14-day SMA indicator has crossed southwards to join with the 50-day SMA indicator. However, their values are that the smaller tool is at $7.067, and the bigger is at $7.180. The Stochastic Oscillators have briefly traveled past the 40 range to get positions at 44.07 and 53.49 range values.
Will the UNI/USD market fall below the bearish trend line drawn furthermore?
As the UNI/USD market bull is trying to find support around the $6 level, there also appears that the crypto market may run into a recession around the same value line for some time before deciding on a definite direction. Bulls have to wait for the reading outlook of the Stochastic Oscillators to give a suggestion backing that an oversold condition has resurfaced and coupled it with the emergence of a bullish candlestick at a lower end to consider a buying order afterward.
On the downside of the technical analysis, selling actions tend to continue around the bearish trend line drawn to reach a psychological point at $6.50. Bears may build resistances between that value line and the $7 resistance level in the long run. The seemingly conjoined area of the SMA trend lines at $7.067 and $7.180 will serve as the barrier points to more ups.
UNI/BTC Price Analysis
To some reasonable extent, Uniswap has been maintaining a standard of higher-trading outlook against Bitcoin for sessions. A line of corrections has occurred recently, leading to a situation that suggests the crypto pair is now trying to find support around the point where the bigger SMA is. The horizontal line drew back the positioning of the SMA tool. The 14-day SMA indicator is over the 50-day SMA indicator. The Stochastic Oscillators have swerved northbound to 57.32 and 64.15 range values. And they are attempting to close their lines to signify that the base crypto will encounter unpalatable moves against its counter-trading crypto soon afterward.
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