Bearish Uniswap currently $0.088 lower after trading as low as $5.3

Trading lower, Uniswap is currently down $0.088 as it ranges between $5.3 and $5.5 so far today.

Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Japanese candlestick formations show a Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal. According to asset volatility analysis, Uniswap's upper Bollinger Band® is at $5.37 which indicates a further downward move may follow. Technical analysis shows that Uniswap could begin to recover as it approaches significant support, now 14 cents away from $5.2. Dipping below could be an indication that further losses are ahead.

Overall, while Uniswap has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Other assets are showing positive performances as Bitcoin Cash is up 11.95%. NEAR Protocol is up 12.36%. FTX Token is up 9.54%.

In addition, United States Core Durable Goods Orders is projected to outperform its last figure with -0.2%. It previously stood at -0.3%; data will be released tomorrow at 12:30 UTC.

Furthermore, United States Building Permits scheduled to come out tomorrow at 12:00 UTC. United States New Home Sales (May) is scheduled for tomorrow at 14:00 UTC.

Registering some good gains for about 4 months now. Uniswap is now trading 2,263,429% above the significant low ($0) it slumped to 4 months ago.