UNI’s performance last week was commendable as it outperformed many of the market’s usual top gainers with |10% gains of its own. Needless to say, this development brought some respite to hopeful investors. At press time, UNI was trading at $6.33 with a market capitalization of over $4.8 billion. UNI’s latest movements have a lot […]
However, contrary to the nature of the aforementioned developments, a negative signal was revealed by CryptoQuant’sThis data pointed out that UNI’s exchange reserve was rising, which indicated higher selling pressure, increasing the possibility of a price decline soon.Surprisingly, UNI’s daily chart also revealed the possibility of a trend reversal as most of the market indicators were not in favor of a price surge in the coming days. UNI’s price was around its resistance zone of $6.
UNI’s Relative Strength Index and Chaikin Money Flow also registered a move towards the south, suggesting a bear advantage in the market. Moreover, the Exponential Moving Average Ribbon projected bear market conditions as the 20-day EMA was below the 55-day EMA. However, the Moving Average Convergence Divergence revealed that a bullish crossover happened recently. Now, while this might help push the price, it will only be for a short period.Subscribe to get it daily in your inbox.
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