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%.