Without a clear-cut direction, Uniswap is trading around $6.09 and ranging between $6.07 and $6.13.
- United States Crude Oil Inventories is next.
- While flat so far today, Uniswap is on a 23 day bullish trend, gaining a total of $0.926 throughout.
Earlier data releases related to Uniswap – United States Consumer Price Index released yesterday at 13:30 UTC with a figure of 0.1%, while the previous figure was 0.4%. United States Core Consumer Prices came out at 0.2%, while a consensus of analysts was expecting 0.3%.
Technical analysis of Uniswap before data is released:
UNICORN Token USD made an initial break below its 10 day Simple Moving Average at $6.1, a possible indication of a forthcoming negative trend. Uniswap's upper Bollinger Band® is at $6.56, suggesting that a downward move may follow. Despite this, Uniswap is approaching key support, around 22 cents away from $5.87. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Uniswap is positioned for a downward move in the near term.
Coming up for Uniswap — United States Retail Sales projected to come out at -0.1% — worse than previous data of 1.3%; data will be released tomorrow at 13:30 UTC. Tomorrow at 13:30 UTC data for United States Core Retail Sales will be released, with an expected decline to 0.2% from the preceding figure of 1.3%.
As the markets get ready for more data to be released — TRON is up 1.29%. After ending today's session at $1.4, FTX Token lost $0.025 and is trading around $1.38. Ripple closed at $0.391 (down 0.99%).
Trading mostly sideways for 5 months. Uniswap is now trading 66.92% below the significant high of $18.46 it set around 11 months ago.