Uniswap (UNI/USD) Market Resumes Bearish Pressures at $12
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UniswapPrice Prediction – February 3
There appears that the UNI/USD trade operation has been lacking in summing up much-needed energy to push northwardly as the crypto-economic market resumes bearish pressures at $12. As of the moment, the price trades around $10, making a less-active motion at a percentage of 1.20 negatives.
UNI/USD Market
Key Levels:
Resistance levels: $12, $14, $16
Support levels: $8, $6, $4
UNI/USD – Daily Chart
The UNI/USD daily chart showcases the crypto-economic market resumes bearish pressures at $12 underneath the trend line of the smaller SMA. The 50-day SMA indicator is above the 14-day SMA indicator. The bearish channel trend lines drew southwardly as its lower sideline touched the $8 support level. The Stochastic Oscillators have closed their lines at the range of 60 to indicate the possibility of seeing some degrees of falling forces in the subsequent trading sessions.
Will the UNI/USD trade go southward on a higher mode as the crypto-economic market resumes bearish pressures at $12?
The UNI/USD trade may still go southward on a slow-and-steady moving mode as the crypto-economic market resumes bearish pressures at $12. A set of bearish candlesticks has formed a pattern, denoting that the falling force may prevail for a while until a support level around $8 is observed in the long run. Therefore, buyers would have to exercise patience by not joining any smaller spike at this point to avoid unnecessary bulls’ traps in no time.
On the downside of the technical analysis, the UNI/USD market sellers now have all things set to ride on the current downward pressures provided that a fearful rebound doesn’t occur to the extent of staying above the trend line of the 14-day SMA afterward. The readings of the Stochastic Oscillators yet back the potency of witnessing more downs, possibly to the lower tune of around $8.
UNI/BTC Price Analysis
In comparison, Uniswap’s trending ability still appears to surrender a falling force pairing with Bitcoin. The crypto-economic pair market seemingly resumes bearish pressures underneath trend lines of the SMAs. The 50-day SMA indicator is above the 14-day SMA indicator. The Stochastic Oscillators have closed their lines at a higher range point above the 40 range line. That signifies the base altcoin may soon be losing more momentums to the south side as placed with the flagship counter crypto.
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