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June 24, 2023
Uniswap slides down from $4.86 to $4.74 today, losing $0.117 (2.4%).
Amid the market gloom, United States Services PMI released yesterday at 13:45 UTC with a figure of 54.1, while the previous figure was 54.9. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 166,500, while the previous figure was 155,100. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 163,000, while the previous figure was 160,200.
As the trading day comes to an end, chart analysis indicates UNICORN Token USD pushed below the $4.83 support level and extended 8 cents beyond it. Trend and momentum analysis indicates that despite being in the red so far in the current trading session, Uniswap peaked above its 50 day Simple Moving Average around $4.9 — typically an early indicator of a new bullish trend beginning to emerge. 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 $4.97 which indicates a further downward move may follow.
Notwithstanding Uniswap's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
In the meantime, negative performances are also seen in other markets, after ending today's session at $244.21, Binance Coin lost $7.59 and is trading around $236.62.
Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Bitcoin Cash added 6% to its value, now trading at $192.
Trending positively for about 4 months. Having set a significant low of $0 4 months ago, Uniswap is trading 2,024,400% higher.
