Uniswap Price: A Negative Reversal is Evident at $6.0 Mark

Sellers are dominating Uniswap market

Uniswap Price Analysis – 08 January

 

If the stock falls below $5.4, traders may attempt to test the $4.8 and $4.0 levels. If there is additional buying pressure at $5.4, the price may overcome the $5.8 resistance and move into the $6.0 and $6.4 levels.

UNI/USD Market

Key Levels:

Resistance levels: $5.8, $6.0, $6.4

Support levels: $5.4, $4.8, $4.0

UNI/USD Long-term Trend: Bearish

The price of Uniswap increased above $6.0 for the last two weeks and continued to incline till it reached $6.4. The bulls are actively pushing the bears. A negative reversal is evident at the $6.0 mark on the Uniswap daily chart. On January 05, as the price approached the $5.8 support level, a significant bearish pattern was established. The price was consequently decreased to $5.4. The price has been falling quickly since the appearance of a bearish engulfing candle.

If the stock falls below $5.4, traders may attempt to test the $4.8 and $4.0 levels. If there is additional buying pressure at $5.4, the price may overcome the $5.8 resistance and move into the $6.0 and $6.4 levels. Uniswap is now in an unfavorable trend because it is trading below the Hull Suite cryptocurrency signal indicator.

 

UNI/USD Medium-term Trend: Bearish

The Uniswap 4-hour chart shows a bearish reversal trend. The price began to fall after it reached $6.4. A few days after the announcement, the price dropped to $5.8. This occurred as merchants pushed for higher demands. As traders became increasingly cautious, the price decreased below the set level; Uniswap hit $5.8 before dropping down to $5.4. Negative factors presently dominate the Uniswap market.

Right now, the price is below the dynamic support level. Buying interest in Uniswap is exhausted. A negative QQE MOD signal histogram indicates selling pressure.

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