Uniswap Price: Bearish Spark at $2,9  Level

Price may go down further

Uniswap Price Analysis – 12 February

The $2.4 and $1.2 levels may be tested by traders if the cryptocurrency drops below $2.9. The price may break through the $4.0 barrier and rise into the $4.5 levels if there is additional buying pressure around $2.9.

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

Over the past four weeks, Uniswap’s pricing has gone up, first to $6.0 and then to $6.4. The bulls are aggressively pushing the bears. At $6.0, the Uniswap daily chart displays a bearish reversal. On January 5, as the price got closer to the $5.8 support level, a notable bearish pattern emerged. As a result, it dropped to $3.5. Since the appearance of a bearish engulfing candle, the price has been rapidly declining.

The $2.4 and $1.2 levels may be tested by traders if the cryptocurrency drops below $2.9. The price may break through the $4.0 barrier and rise into the $4.5 levels if there is additional buying pressure around $2.9. Given that it is trading below the Hull Suite cryptocurrency signal indicator, Uniswap is presently in a bearish trend.

UNI/USD Medium-term Trend: Bearish

On the Uniswap 4-hour chart, a negative reversal trend can be observed. The price began to drop after reaching $6.4. A couple of days following the announcement, the price dropped to $3.5. This occurred as merchants pushed for higher demands. The price fell below the predetermined level as traders grew increasingly cautious; Uniswap reached $5.8 before falling to $5.4. Negative factors currently dominate the Uniswap market.

Right now, the price is below the dynamic support level. Uniswap purchases have lost their appeal. A negative histogram for the QQE MOD signal indicates selling pressure.

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