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Cryptoknowmics 2022-05-23 22:30:07

UNI Technical Analysis: Back in Green, Buyers Eye $6.68

UNI prices experience a surge in the underlying bullishness resulting in the falling channel breakout with the trading volume support. Key technical points: UNI prices are up by 6% today. The uptrend breaks above the falling channel pattern. The 24-hour trading volume of Uniswap is $606 Million, indicating a rise of 93%. Past Performance of UNI UNI prices display an uptrend that is bullish away from the $4.5 mark, resulting in a breakout of the trend fueling the price rise towards $6. Furthermore, the bull run is able to break above the long-running resistance trendline of the channel that is falling, releasing the bullish momentum that has been trapped for a long time. Source-Tradingview UNI Technical Analysis The bullish reversal of UNI beginning at $4.5 includes the trading volume support, which was able to offset the volume of the previous bearish trend. But, the more expensive price rejection of the threshold of $6 attempts to derail the breakout. Therefore price action traders should be patient and wait until a close to avoid getting stuck. The most significant EMAs for the day show the tendency to fall, representing a bearish line that indicates the robust bearish underpinning. The RSI values take an abrupt retreat from the oversold zone and then go over the average line of 14 days to enter the mid-point. However, the bullish outlook isn’t convinced by the Stochastic indicator because the D and K lines struggle to keep ...

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