Uniswap Price: Bearish Pressure Increases

Price is aiming at $2.4 line

Uniswap Price Analysis – 05 February

If the cryptocurrency falls below $2.9, traders might attempt to test the $2.4 and $1.2 levels. If there is more buying pressure around $2.9, the price might overcome the $4.0 barrier and move up into the $4.5 levels.

UNI/USD Market

Key Levels:

Resistance levels: $3.5, $4.0, $4.5

Support levels: $2.9, $2.4, $1.2

UNI/USD Long-term Trend: Bearish

The price of Uniswap has increased over the last four weeks, reaching $6.0 and then rising further to $6.4. The bears are being actively pushed by the bulls. The Uniswap daily chart shows a negative reversal at $6.0. A significant bearish pattern appeared on January 5 as the price approached the $5.8 support level. Consequently, the price fell to $3.5. The price has been falling quickly since a bearish engulfing candle emerged.

If the cryptocurrency falls below $2.9, traders might attempt to test the $2.4 and $1.2 levels. If there is more buying pressure around $2.9, the price might overcome the $4.0 barrier and move up into the $4.5 levels. Uniswap is currently in a bearish trend since it is trading below the Hull Suite cryptocurrency signal indicator.

UNI/USD Medium-term Trend: Bearish

A negative reversal trend may be seen in the Uniswap 4-hour chart. After hitting $6.4, the price started to decline. The price fell to $3.5 a few days after the announcement. As merchants pushed for greater demands, this happened. As traders became more cautious, the price dropped below the set level; Uniswap hit $5.8 before dropping to $5.4. Negative factors currently dominate the Uniswap market.

The price is currently below the dynamic support level. Uniswap purchases are no longer desirable. Selling pressure is indicated by a negative QQE MOD signal histogram.

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