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March 02, 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.
Initial Jobless Claims data from United States will be released today at 13:30 UTC with analysts expecting a decline to 195,000. Potentially significant price fluctuations in Uniswap are expected to follow.
Nonetheless, encouraging indicators for Uniswap published earlier when highly important Crude Oil Inventories data from United States beat analyst expectations of 457,000 with a reading of 1.17 million.
Amid the market gloom, United States ISM Manufacturing PMI (Feb) released yesterday at 15:00 UTC with a figure of 47.7, while the previous figure was 47.4. United States Cushing Crude Oil Inventories released yesterday at 15:30 UTC with a figure of 307,000, while the previous figure was 700,000.
UNICORN Token USD could begin to recover as it approaches significant support, now 22 cents away from $6.66. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Uniswap peaked above its 3 day Simple Moving Average around $6.88 — typically an early indicator of a new bullish trend beginning to emerge.
Technical analysis indicates that Uniswap (currently on a downtrend) might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, Tezos USD is down to $1.18, losing $0.025, after closing at $1.2 in the preceding trading session. Polkadot slumps 1.66% to trade around $6.43.
Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is currently trading at $1.36.
Looking ahead, ongoing depreciation may be prolonged as United States Initial Jobless Claims expected to decline to 195,000 while its preceding data was 192,000, data will be available today at 13:30 UTC.
Furthermore, United States ISM Non-Manufacturing PMI (Feb) is expected tomorrow at 15:00 UTC.
Uniswap is now trading 2,761,848% above the significant low ($0) it slumped to 20 days ago.
