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.
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