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Trading Signals

Bearish Uniswap currently $0.197 lower after trading as low as $6.29

28 April 2023

UNIUSD

Uniswap is grinding lower from $6.63 to $6.43, shedding $0.197 (2.98%) today.

Uniswap is currently trading at $6.43 following the release of Core PCE Price Index (MoM) (Mar) data from the United States.

Following a previous reading of 0.8%, Pending Home Sales in United States released yesterday at 14:00 UTC fell short of the 0.5% figure expected by analysts with an actual reading of -5.2%. GDP in United States fell short of market expectations (two) with a reading of 1.1, continuing the decline from the previous figure of 2.6.

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. Uniswap is currently flirting with an active Fibonacci support level around $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, after ending today's session at $330.72, Binance Coin lost $9.53 and is trading around $321.19. Bitcoin closed at $28,982 (down 1.66%).

Other assets are showing positive performances as FTX Token gained 9.54% and is now trading at $1.36.

Registering some good gains for about 2 months now. Uniswap hit a significant low of $0 around 2 months ago, but has since recovered 2,761,848%.

Market Summary

Latest Crypto News

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ETH set for weak finish today; down 1.59% to $1,875 with 4 hours before close

FTX cryptocurrency trades up $0.119, approximately 9.54% higher this afternoon

Mixed sentiment leads Cardano cryptocurrency to trade sideways; establishes tight $0.379 to $0.383 range

Polkadot cryptocurrency trades up $0.036, approximately 0.64% higher this afternoon

LTC cryptocurrency trades up $0.62, approximately 0.74% higher going into tomorrow

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