Uniswap Price Pulled Back, It May Continue Bearish

Bears hold unto Uniswap market

Uniswap Price Analysis – 07August

Uniswap can overcome the $9.5 support level and hit the $8.2 to $7.4 potential if selling pressure picks up at $10.5. If merchandisers can get over the $10.5 opposing mindset, then can try to reevaluate the $11.5 and $12.0 possibilities.

UNI/USD Market

Key Levels:

Resistance levels: $10.5, $11.5, $12.0

Support levels: $9.5, $8.2, $7.4

UNI/USD Long-term Trend: Bearish

The “double Top” of a bearish reversal index is displayed in the $12.0 zone of the Uniswap daily chart. The cryptocurrency formed a double bottom chart pattern and bottomed near the $5.4 support level on May 8, which triggered a bullish trend that reached the barrier level of $9.5. The bulls hold onto their profits as the price rises again. On July 21, Uniswap’s price rose to about $11.5. It then continued to incline before rising again and testing $12.0. At the designated level and drop, bears oppose bulls. At the moment, it is attempting to overcome the $9.5 barrier.

Uniswap’s trading below the Hull Suite cryptocurrency signal recommendation suggests a downward trend. It can overcome the $9.5 support level and hit the $8.2 to $7.4 potential if selling pressure picks up at $10.5. If merchandisers can get over the $10.5 opposing mindset, then can try to reevaluate the $11.5 and $12.0 possibilities.

UNI/USD Medium-term Trend: Bearish

The 4-hour chart from Uniswap shows a negative reversal trend. The price drop began after the stores hit the $12.0 threshold. A few days after the price increase was finalized, charges dropped to $10.5. This occurred as merchants increased the pressure on their demands. As trade grew increasingly cautious, prices dropped to the predefined threshold; the Uniswap dropped below $10.5 before testing $9.5. The fall continues with an aim of $8.2 points.

The price is now trading below the dynamic support level. The request is drawing nearer at Uniswap. A selling position is indicated by a negative QQE MOD signal histogram.

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