Uniswap (UNI/USD) Witnesses a Big Price Downturn
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Uniswap Price Prediction – May 20
After long maintaining of trading in well-defined bullish trendlines, the crypto now suddenly succumbs to a heavy pressure inflicted on it by the US Dollar to trade at a lower value of around $24. Price is trading at about a 5.96% increase as of writing.
UNI/USD Market
Key Levels:
Resistance levels: $30, $40, $50
Support levels: $15, $10, $5
UNI/USD – Daily Chart
Yesterday’s UNI/USD market operation saw a sudden heavy economic downturn as a long bearish candlestick emerged to break down the lower bullish trend-line of the crypto’s valuation. The bearish candlestick went down to achieve a mid-value of about in between the levels of $20 and $10 before started to see a reversal move that has led the market now to trade a bit above the former point earlier mention. The 14-day SMA is still located in the bullish channels slightly pointing to the south over the 50-day SMA indicator. The Stochastic Oscillators are in the oversold region seemingly trying attempting to cross the hairs back to the north. That signifies a return of an upswing is in the loom.
Will the UNI/USD push back into its bullish channels soon?
Pushing back of the UNI/USD market into its recent past bullish channels appears not forthcoming in the near time. However, a drastic support point has found a bit below the level of $20. And, bulls are now having a better chance to muster energy to beef up on a gradual moving course to the north. The slight bend of the smaller lacks the larger extent of getting the bigger SMA intercepted by this current pace of lower trading zone of the crypto market. Therefore, any pull-down at this time will potentially get a notable reverse for buy entry.
A further downward push back below the $20 level in the market operations between UNI and USD will most definitely create a trap trading zone against bears. Like wisely, placing a sell order during the time of a probable pit stop near below or around the bigger SMA indicator may in the long run catch most selling positions unaware of a potential sudden breakout at any such a level the trading tool could be.
UNI/BTC Price Analysis
During yesterday’s session, it is now depicted on the comparison trading chart that UNI was overwhelmed by BTC as a bearish candlestick emerged to engulf some of the past bullish candlesticks formed in the crypto pair operations. The bearish candlestick elongated to break through all the SMA trendlines downward. But, it appears now that the base crypto is trying to find support around the 50-day SMA as the 14-day SMA is still located at a higher level. The Stochastic Oscillators have crossed slightly past the range 40 to still indicate a downward pressure is ongoing. That shows that the base tool may still have to go dumping as paired with the flagship cryptocurrency for a while.
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