Uniswap (UNI/USD) Price Reverts to a Downing Motion
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Uniswap Price Prediction – November 18
The UNI/USD market price reverts to a downing motion while it couldn’t hold the positions past from $25 line it was, hovering over several sessions lately. The crypto-economic valuation, as of writing, trades around $21 at a negative percentage rate of about 2.89. It appears that the market is currently satisfying a downward force.
UNI/USD Market
Key Levels:
Resistance levels: $25, $29, $34
Support levels: $20, $18, $16
UNI/USD – Daily Chart
The UNI/USD daily chart showcases that the crypto-economic price as being traded with the US Dollar reverts to a downing motion. The current price reaction has brought the trading situation to a lower zone that the market will have to start rebuilding supports. The 14-day SMA trend line has for long conjoined with the 50-day SMA trend line around the level of $25. The bullish trend line drawn to touch the conjoining area of the SMAs has also breached southward. The Stochastic Oscillators are in the oversold region, with the lines conjoined to the range of zero to signify that the market has dropped to a critical psychological trading spot.
What is expected of the UNI/USD market traders as the price reverts to a downing motion?
It has indicated that the UNI/USD market has reached a critical lower trading zone while the crypto-economic price reverts to a downing motion. Traders going for long positions suppose to be on alert, waiting for a bullish candlestick to emerge from the depth trading zone before exerting a long order. It is most likely that that assumption will have to play out around the support levels of $20 and $18 afterward.
On the downside of technical analysis, the UNI/USD market short position takers now appear pushing down the price for the completion of a downward trend as indicated by the Stochastic Oscillators. In the light of that, it will be risky that more shorting positioning order is executed beneath the support levels of $20 and $18 or thereabouts while no tangible motion re-surfaces to warrant it at those points.
UNI/BTC Price Analysis
Comparing the trending catalyst between Uniswap and Bitcoin, the cryptocurrency pair price has serially continued to revert to a downing motion. In other words, it means that the base crypto is yet to come out of a depression inflicted upon it by the flagship counter crypto until now. The 50-day SMA indicator is above the 14-day SMA indicator The Stochastic Oscillators have dipped back into the oversold region, tightly touching the lowest range line at zero. That suggests that the base crypto trading tool has pushed to a logical zone that it will have to re-energize its trending style against the counter crypto expectantly in the near time.
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