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April 17, 2023
While Uniswap in the midst of a 3 day downtrend, Today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. After closing at $6.37 today, Uniswap began today at $6.37 with significant bullish sentiment driving Uniswap's price action higher. So far today, price action has drawn out a distinct $6.29 to $6.47 range.
At the same time, United States TIC Net Long-Term Transactions (Feb) came out at 71 billion, while a consensus of analysts was expecting 101.9 billion. United States NY Empire State Manufacturing Index (Apr) released today at 12:30 UTC with a figure of 10.8, while the previous figure was -24.6.
UNICORN Token USD could be slowing down soon as it approaches resistance at $7. Of course, crossing it might suggest further gains are ahead. Although up today, early price action saw Uniswap dropping below its 200 day Simple Moving Average at $6.11 — an early indicator that a new downward trend could be emerging.
Uniswap is likely to reverse course and start pointing downward in the short term.
Uniswap shows positive signs, other assets are also on par: FTX Token is up 9.54% to $1.36.
Meanwhile, after ending today's session at $0.235, Algorand USD lost $0.014 and is trading around $0.221.
Furthermore, the market is looking at United States Building Permits (Mar) will be released tomorrow at 12:30 UTC.
On an upward trend for about a month now. 2 months ago, Uniswap fell to a low of $0 but has since recovered 2,654,432%.
