Uniswap (UNI/USD) Trade Rejects at $30
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Uniswap Price Prediction – August 12
The UNI/USD trade rejects at $30 trading line after successive upwards in the crypto-economic operations. The crypto witnesses a percentage rate of around -5.39 to trade at the level of 27.
UNI/USD Market
Key Levels:
Resistance levels: $30, $33, $36
Support levels: $25, $23, $21
UNI/USD – Daily Chart
It manifested on the UNI/USD daily chart the crypto trade rejects around a $30 trading line. The rejection movement took effect during the August 10th session. But, today’s operations witness an elongation of a bearish motion between the points of $30 and $25. The 14-day SMA trend-line has conjoined with the 50-day SMA trend-line in an attempt to breach northward. The Stochastic Oscillators slightly curved southbound from the overbought region against the range at 80. A downward move now appears imminent in the near time.
Would the market dump further into a downward trend as the crypto trade rejects at $30?
There are indications that the market dumping downward is on a higher note as the crypto trade rejects at the line of $30. From the technical look of things, longing of positions furthermore needed to suspend until a while. Price may continually decline in systemic settings to achieve a lower point around $25 to rebuild a solid grand for support. Reversal movement in the current trading cycle, aiming to break past the rejection trading zone; may not live long.
The present price rejection movement needed to be intensified by the UNI/USD market bears. A full-body bearish candlestick at the end of today’s session will potentially create selling entries below $30. The readings of the Stochastic Oscillators suggest that the market’s strength would most likely go downside. Therefore, bears should lookout for a decent sell position to exert their actions.
UNI/BTC Price Analysis
In comparison, as of writing, the base crypto faces a line of difficult trading situations trending further against the counter crypto. The trade is rejecting at a higher zone a bit above the SMAs. The 14-day SMA trend-line bent northward, touching the 50-day SMA trend-line from underneath. The Stochastic Oscillators are with conjoined lines in the overbought region, consolidating within it to signify that the duo-currencies direction of trending now faces an indecision situation. However, it is most likely tha the base crypto will lose momentum to the flagship counter crypto afterward.
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