Uniswap Price: Bearish Reversal at $17.9 Barrier

Double Top chart pattern at $17.9

Uniswap Price Analysis – 19 December

In Uniswap market, if buying pressure returns around $16.3, it may break through resistance levels and hit the $17.9 to $19.7 levels. Sellers might attempt to reevaluate the $12.0 and $10.2 levels if they can break through the $13.8 support level

UNI/USD Market

Key Levels:

Resistance levels: $16.3, $17.9, $19.7

Support levels: $13.8, $12.0, $10.2

UNI/USD Long-term Trend: Bearish

The Uniswap daily chart unquestionably shows a bearish reversal indicator “Double Top”. On September 5, it was anticipated that the currency would test the $6.5 support level before rising to the $9.5 resistance level. When the price dropped below $6.5, the bears held onto their market. The price of Uniswap has increased to $13.8 within the last two weeks. It then began to rise and tested the resistance level of $17.9. After withdrawing, it was reexamined on December 9 in the $13.9 zone.  Last week, customers followed the earlier guidance, and the price bounced off the $17.9. It is approaching $13.8 level.

A downward trend is shown by Uniswap’s trading below the Hull Suite indicator for cryptocurrency signals. If buying pressure returns around $16.3, it may break through resistance levels and hit the $17.9 to $19.7 levels. Sellers might attempt to reevaluate the $12.0 and $10.2 levels if they can break through the $13.8 support level.

UNI/USD Medium-term Trend: Bearish

Uniswap’s 4-hour chart indicates a decreasing trend. As soon as the buyers reached the $17.9 barrier level, price decreases started. After the principal job was finished a few days ago, prices increased to $17.9. When sellers increased the pressure on their market, this is what transpired. Prices drop to the predetermined level as sellers grew increasingly nervous; the Uniswap followed the bears’ lead and decline to the $13.8 mark.

At the moment, the price is lower than the dynamic support level. At Uniswap, the market is unpredictable. A negative QQE MOD signal histogram indicates a selling position.

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