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April 06, 2023While 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. Currently trading at $6.47, Uniswap remains range-bound between $6.29 and $6.47.
United States Initial Jobless Claims data will be released today at 12:30 UTC, with an expected decline to 200,000.
Nevertheless, highly important Crude Oil Inventories data from United States beat analyst expectations of -2.33 million with a reading of -3.74 million.
At the same time, United States ISM Non-Manufacturing PMI (Mar) came out at 51.2, while a consensus of analysts was expecting 54.5. United States ADP Nonfarm Employment Change (Mar) released yesterday at 12:15 UTC with a figure of 145,000, while the previous figure was 261,000.
As the trading day commences, technical analysis suggests UNICORN Token USD could be slowing down soon; it is getting close to the resistance line and is now at $7, only 52 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Other markets are also showing gains as FTX Token added 9.54% to its value, now trading at $1.36.
At the same time, after ending today's session at $2.03, NEAR Protocol lost $0.027 and is trading around $2.
Also worthy of note, as things stand, upcoming United States Non Farm Payrolls data is projected to fall short of market expectations with newly published data of 240,000, following on from the preceding figure of 311,000. New data is set to be published tomorrow at 12:30 UTC. Today at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 200,000 from the preceding figure of 198,000.
The market is looking forward to the release of new data: United States Unemployment Rate is expected tomorrow at 12:30 UTC.
Registering some good gains for about a month now. Uniswap hit a significant low of $0 around a month ago, but has since recovered 2,654,432%.
