Uniswap (UNI/USD) Price Resorts to a Correction in Bullish Channels
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Uniswap Price Prediction – August 18
A change in the trading situation has occurred in the UNI/USD market operations as the crypto trade price resorts to a correction in bullish channels. As of the time of writing, the crypto economy shows a sign of positivity in its percentage rate at 1.36 as it trades around the $8.06 value line.
UNI/USD Market
Key Levels:
Resistance levels: $10, $11, $12
Support levels: $7, $6, $5
UNI/USD – Daily Chart
The daily chart showcases that the crypto market price resorts to a correction in bullish channels down to the lower bullish trend line area. The bullish trend lines drew upwardly to the $10.70 or thereabout while its lower counterpart drew to around $8.07. The 14-day SMA indicator has managed to be around $8.23 above the $7.40 value line of the 50-day SMA indicator. The Stochastic Oscillators have dipped into the oversold region, maintaining 2.51 and 2.48 range values.
Will the UNI/USD trade go debasing past its current trading point?
Presently, indications are somewhat suggesting the UNI/USD trade operations may be lacking the ideal amount of forces needed to push down further from its current trading spot even though the crypto-economic resorts to a correction in bullish channels. If that assumption would have to be genuine, long-position placers need to brace up to get a decent buying entry order while a move tending to spark upward emanates in no time from a lower-trading zone around the 50-day SMA afterward.
On the downside of the technical analysis, the pattern formed, down to the lower bullish trend-line, doesn’t seemingly support getting an ideal further selling entry order. Short-position placers would need to take some time off the trading in the market for a while. It may be taking a longer time than is unnecessary before the price can breach southward more against the 50-day SMA trend line at the $7.40 level.
UNI/BTC Price Analysis
Uniswap market operation resorts to a correction to the extent of slightly pushing down; out of the bullish channels and the smaller SMA. About two smaller bearish candlesticks have emerged below the trend line of the smaller trading SMA between the 16th and the 17th sessions. Today’s session shows a smaller bullish candlestick is in the making, closely below the 14-day SMA above the 50-day SMA indicator, keeping a distance from it. The Stochastic Oscillators have touched deep down the oversold region to signify the base crypto may soon be, having a better chance to regain its lost momentum to push against its counter-trading crypto instrument.
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