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May 11, 2023
Uniswap weakened earlier in the day, before moving away from its $6.29 low and recovering back to $6.43.
In contrast, positive data for Uniswap reported earlier when data for United States Crude Oil Inventories published yesterday at 14:30 UTC came out at 2.95 million, beating projections of -917,000 and showing improvement over the preceding figure of -1.28 million.
Amid the market gloom, United States Consumer Price Index came out at 4.9%, while a consensus of analysts was expecting 5%. United States Core Consumer Prices released yesterday at 12:30 UTC with a figure of 0.4%, while the previous figure was 0.4%.
As the day gets underway, chart analysis suggests the resistance level is at $7, followed by $7.19.
In the meantime, negative performances are also seen in other markets, NEAR Protocol closed at $1.62 (down 2.61%). Bitcoin Cash is trading around $114.67 (down $1.09).
Other assets are showing positive performances as FTX Token is up 9.54%.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Initial Jobless Claims projected to decline to 245,000 while previous data was 242,000; data will be released today at 12:30 UTC.
Moreover, United States Producer Price Index is projected to outperform its last figure with 0.3%, having previously been at -0.5%. The figure will be published today at 12:30 UTC.
On an upward trend for about 2 months now. Uniswap now trading 3,986.46% above its 3-month low of $0.
