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April 28, 2023
Uniswap drops from $6.63 to $6.43, losing $0.197 (2.98%) today.
Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of -5.2%. United States GDP published yesterday at 12:30 UTC came out at 1.1, falling short of the two projections and continuing its decline from the previous 2.6 figure.
While price action maintains a negative bias, United States Core PCE Price Index (MoM) (Mar) came out at 0.3, while a consensus of analysts was expecting 0.3.
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. Having stamped out a session range of $6.29 to $6.7, Fibonacci-inclined Uniswap traders were highly concentrated around active Fibonacci support at $5.51.
Looking forward, Uniswap is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, Binance Coin is trading around $324.22 (down $6.5).
Positive performances can be seen by looking at other markets as FTX Token jumps 9.54% to trade around $1.36. Solana is up 4.19%.
Trending positively for about 2 months. Uniswap hit a significant low of $0 around 2 months ago, but has since recovered 2,761,848%.
