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February 22, 2023
During a 4 day uptrend, Uniswap gained a total of $6.63, or 2,352,100%. Now turning against its recent performance, after closing at $6.63 today, Uniswap opened today at $6.63, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, Uniswap retains a distinct $6.29 to $6.7 daily range.
United States FOMC Meeting Minutes is next today at 19:00 UTC.
While price action maintains a negative bias, United States Existing Home Sales (Jan) came out at 4 million, while a consensus of analysts was expecting 4 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.673, while the previous figure was 4.139. United States Existing Home Sales released earlier showed a marked improvement to -0.7% from the preceding data of -2.2%, but fell short of the 2% figure forecast by a consensus of market analysts.
Uniswap chart analysis: UNICORN Token USD's nearest support level is at $0.001, followed by $0.001 at the next level. Uniswap formed a session range of $6.29 to $6.7 leaving buyers and sellers highly concentrated around an active Fibonacci support level of $6.98.
In the meantime, negative performances are also seen in other markets, Bitcoin Cash closed at $138.36 (down 4.69%).
Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Crude Oil Inventories expected to decline to 1.17 million while its preceding data was 16.28 million, data will be available tomorrow at 16:00 UTC. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 200,000 from the preceding figure of 194,000.
Furthermore, United States GDP figure is projected at 2.9. It previously stood at 2.9; data will be released tomorrow at 13:30 UTC.
Uniswap hit a significant low of $0 around 12 days ago, but has since recovered 2,761,848%.
