Uniswap Price: Bullish Pullback Envisaged at $6.0

Sellers’ momentum is decreasing

Uniswap Price Analysis – 04 December

Retailers can try to explore the $5.4 and $4.7 prospects if they can get below the $6.0 counterargument. It can cross the $6.4 resistance level and reach the $6.7 to $7.4 potential if buying pressure picks up at $6.0.

UNI/USD Market

Key Levels:

Resistance levels: $6.4, $6.7, $7.4

Support levels: $6.0, $5.4, $4.7

UNI/USD Long-term Trend: Bearish

Last week, the price of Uniswap fell to roughly $6.0, and it kept falling until it reached $5.4. When bulls and bears engage in proper warfare, bears may decline. The $7.4 mark on the Uniswap daily chart denotes strong bullish momentum. The cryptocurrency created a powerful bullish chart pattern on October 13 when it peaked extremely near the $7.4 resistance level. This made it possible to raise the price, which ultimately came to $10.2. A bearish engulfing candle appeared, and the price has been steadily dropping up to this point.

Retailers can try to explore the $5.4 and $4.7 prospects if they can get below the $6.0 counterargument. Uniswap is trading below the Hull Suite cryptocurrency signal indicator, indicating a generally unfavorable trend. It can cross the $6.4 resistance level and reach the $6.7 to $7.4 potential if buying pressure picks up at $6.0.

UNI/USD Medium-term Trend: Bearish

The 4-hour chart for Uniswap indicated a negative reversal trend. When the businesses hit the $10.2 barrier, the price fall began. Charges dropped to $7.4 a few days after the price increase was announced. As merchants put more pressure on their demands, this happened. Prices exceeded the predetermined level as traders grew more cautious; the Uniswap almost reached $6.0 before falling to $6.4. The market is currently dominated by bears.

Right now, the price is below the dynamic support level. At Uniswap, the request is almost finished. A selling position is represented by a negative QQE MOD signal histogram.

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