Uniswap Price: Bears Defend $12.0 Resistance Level

Bears are taking over Uniswap market

Uniswap Price Analysis – 21 August

It can overcome the $10.0 resistance level and hit the $11.0 to $12.0 potential if buying pressure picks up at $9.0. If merchandisers can get past the $9.0 opposing perspective, then can try to reevaluate the $8.0 and $7.0 prospects

UNI/USD Market

Key Levels:

Resistance levels: $10.0, $11.0, $12.0

Support levels: $9.0, $8.0, $7.0

UNI/USD Long-term Trend: Bearish

There is significant negative momentum in the $12.0 zone of the Uniswap daily chart. The cryptocurrency formed a double bottom chart pattern on May 8 after bottoming out near the $5.4 support level. A bullish trend that ultimately reached the $11.0 barrier level was triggered by this. The bulls hold onto their profits as the price rises again. Last week, Uniswap’s price went down to about $10.0. Following that, it continued to fall and reaching $9.0.0. Bulls drop after engaging in combat with bears at the appropriate level. At the moment, it is attempting to surpass below the $9.0 threshold.

Uniswap’s trading below the Hull Suite cryptocurrency signal indicator indicates a negative trend. It can overcome the $10.0 resistance level and hit the $11.0 to $12.0 potential if buying pressure picks up at $9.0. If merchandisers can get past the $9.0 opposing perspective, then can try to reevaluate the $8.0 and $7.0 prospects.

UNI/USD Medium-term Trend: Bearish

The 4-hour chart for Uniswap showed a negative reversal trend. The price hike began when the businesses hit the $9.5 threshold. A few days after the price rise was confirmed, charges went up to $10.5. This occurred as merchants increased the pressure on their demands. As trade grew more cautious, prices increased to the predefined level; the Uniswap tested $10.5 before testing $12.0. The coin bounces off the just mentioned high and begin a bearish movement.

At the moment, the price is below the dynamic support level. The request is drawing nearer at Uniswap. A selling position is indicated by a negative QQE MOD signal histogram.

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