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April 28, 2023
Uniswap has been losing ground for 3 days, shedding a total of 8.6% of its value. Similar trend today: Uniswap is down to $6.43, after ending today at $6.63. Overall, a 2.98% loss or $0.197 today.
Following a previous reading of 0.8%, Pending Home Sales in United States released yesterday at 14:00 UTC fell short of the 0.5% figure expected by analysts with an actual reading of -5.2%. GDP in United States fell short of market expectations (two) with a reading of 1.1, continuing the decline from the previous figure of 2.6.
Nonetheless, encouraging indicators for Uniswap published earlier when data for United States Initial Jobless Claims published yesterday at 12:30 UTC came out at 230,000, beating projections of 248,000 and showing improvement over the preceding figure of 246,000.
UNICORN Token USD made an initial break below its 50 day Simple Moving Average at $5.56, a possible indication of a forthcoming negative trend.
In the short term, Uniswap is expected to maintain its recent downtrend and continue spiralling lower.
In the meantime, negative performances are also seen in other markets, Binance Coin is trading around $328.45 (down $2.26).
Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.
Furthermore, United States Core PCE Price Index (MoM) (Mar) is scheduled for today at 12:30 UTC.
On an upward trend for about 2 months now. Uniswap hit a significant low of $0 around 2 months ago, but has since recovered 2,761,848%.
