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July 05, 2023Uniswap trades at $5.54, after ending today at $5.52.
As the trading day commences, technical analysis suggests UNICORN Token USD is approaching key support, around 14 cents away from $5.4. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend-following investors would be interested to note that Uniswap made an initial breakout above its 3 day Simple Moving Average at $5.54, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Uniswap's upper Bollinger Band® is at $5.87, suggesting that a downward move may follow.
Overall, while Uniswap has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Meanwhile, mixed performances are seen elsewhere as FTX Token gained 9.54% and is now trading at $1.36. TRON moves 0.51% to trade around $0.078. Bitcoin Cash improves 0.86% to trade around $275.64.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Crude Oil Inventories is projected to outperform its last figure with -729,000, having previously been at -9.60 million. The figure will be published tomorrow at 15:00 UTC. United States ADP Nonfarm Employment Change (Jun) is scheduled for tomorrow at 12:15 UTC. Projections for United States Initial Jobless Claims are set for a continuation of decline with 245,000 while previous data was 239,000; data will be released tomorrow at 12:30 UTC.
Registering some good gains for about 4 months now. Uniswap is now trading 2,298,525% above the significant low ($0) it slumped to 4 months ago.
