Bears’ pressure is increasing
Uniswap Price Analysis – 11 December
If retailers can go below the $4.8 counterargument, they can attempt to investigate the $4.0 and $3.5 prospects. If buying pressure increases at $5.4, it can surpass the $6.0 resistance level and reach the $7.4 potential.
UNI/USD Market
Key Levels:
Resistance levels: $5.4, $6.0, $7.40
Support levels: $4.8, $4.0, $3.5
UNI/USD Long-term Trend: Bearish
Uniswap’s price rose above $7.40 last week, and it continued increasing until it hit $9.1. Bears engage in appropriate battle with bulls. On the Uniswap daily chart, the $7.4 mark indicates significant bearish reversal momentum. On November 11, the cryptocurrency crested very close to the $5.4 resistance level, creating a strong bearish chart pattern. The price was eventually lowered to $4.8 as a result of this. The price has been declining gradually since the appearance of a bearish engulfing candle.
If retailers can go below the $4.8 counterargument, they can attempt to investigate the $4.0 and $3.5 prospects. If buying pressure increases at $5.4, it can surpass the $6.0 resistance level and reach the $7.4 potential. Uniswap is showing a generally negative trend as it is trading below the Hull Suite cryptocurrency signal indicator.
UNI/USD Medium-term Trend: Bearish
Uniswap’s 4-hour chart showed a bearish reversal trend. The price decline started when the companies reached the $10.2 threshold. A few days after the price rise was announced, charges decreased to $7.4. This occurred as merchants increased the pressure on their demands. As traders became more cautious, prices surpassed the set level; the Uniswap hit $6.0 before dropping to $5.4. Bears currently control the Uniswap market.
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