Uniswap (UNI/USD) Market Holds Higher in Bullish Channels
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Uniswap Price Prediction – August 11
The UNI/USD market holds higher in bullish channels as the crypto economy trades at an average percentage rate of 8.07 positive around the value line of $9 as of the time of writing.
UNI/USD Market
Key Levels:
Resistance levels: $10, $11, $12
Support levels: $7, $6, $5
UNI/USD – Daily Chart
The daily chart reveals the Uniswap market operation holds higher in bullish channels. The 14-day SMA trend line has crossed the 50-day SMA trend line to the north. The lower bullish channel trend line drew along the smaller SMA, touching the bottom points of the variant bullish candlesticks to maintain the upside direction. The Stochastic Oscillators have moved southbound slightly past the 40 range. And they are trying to cross back northbound around it to suggest an upward move is liable to reoccur soon.
Will the UNI/USD market push more for highs in the bullish channels?
There has been no significant signal to suggest a change of direction in the UNI/USD trade activities as the crypto market holds higher in bullish channels. The 50-day SMA is at $7.1897 near, below the 14-day SMA, which is at $7.969. to provide a back to the area where the lower bullish channel trend line drew alongside the smaller SMA. The UNI/USD market bulls likely take advantage of any rebounding motion that can set in around those points afterward.
On the downside of the technical analysis, a bullish candlestick coupling with the reading of the Stochastic Oscillators around the 40 range, short-position takers in the UNI/USD market needed to put their actions on hold for a while. It appears the price will encounter a rejection around the resistances of $10 and $11 in the long run. Therefore, it only requires some degree of cautiousness before that assumption will materialize.
UNI/BTC Price Analysis
Uniswap has continued to keep a northward-path pushing against Bitcoin. In other words, the cryptocurrency pair market holds higher in bullish channels on the daily price analysis chart. The 14-day SMA indicator is over the 50-day SMA indicator. A bullish candlestick is in the making near the top of the smaller SMA trend line to indicate that the base crypto has regained strength to move against its counter-trading crypto. The Stochastic Oscillators have touched the 20 range. And they are trying to cross the line northbound.
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