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February 28, 2023
Slightly weaker but mostly flat: Uniswap is currently trading at $6.43 as it maintains an active range between $6.29 and $6.7.
United States Consumer Confidence data will be released today at 15:00 UTC, with an expected improvement to 108.5. Uniswap reaction to indicator information will follow.
On the flip side, United States Pending Home Sales beat analyst expectations of 1% and the previous reading of 1.1% with new data of 8.1%. Data for United States Core Durable Goods Orders published yesterday at 13:30 UTC came out at 0.7%, beating projections of 0.1% and showing improvement over the preceding figure of -0.4%.
Amid the market gloom, Core Durable Goods Orders in United States fell short of market expectations (-4%) with a reading of -4.5%, continuing the decline from the previous figure of 5.1%.
Chart analysis suggests UNICORN Token USD could begin to recover as it approaches significant support, now 26 cents away from $6.17. Dipping below could be an indication that further losses are ahead.
In the meantime, negative performances are also seen in other markets, NEAR Protocol decreases 3.64% to trade around $2.26. Bitcoin Cash is trading around $132.56 (down $2.59).
Other assets are showing positive performances as FTX Token added 9.54% to its value, now trading at $1.36.
Looking ahead, ongoing depreciation may be prolonged as as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 440,000, following on from the preceding figure of 7.65 million. New data is set to be published tomorrow at 15:30 UTC.
In addition, United States Consumer Confidence is projected to outperform its last figure with 108.5. It previously stood at 107.1; data will be released today at 15:00 UTC.
Furthermore, United States ISM Manufacturing PMI (Feb) is scheduled for tomorrow at 15:00 UTC.
18 days ago, Uniswap fell to a low of $0 but has since recovered 2,761,848%.
