Uniswap Price: Bullish Trend Continues After a Retracement

Price may reassess previous high at $17.9 levels

Uniswap Price Analysis – 12 December

It might surpass resistance levels and reach the $19.7 to $22.8 levels if buying pressure comes back around $17.9. If sellers are able to break through the $16.3 support level, they may try to reassess the $13.8 and $12.0 levels.

UNI/USD Market

Key Levels:

Resistance levels: $17.9, $19.7, $22.8

Support levels: $16.3, $13.8, $12.0

UNI/USD Long-term Trend: Bullish

There is no doubt that the Uniswap daily chart displays a bullish reversal indicator. The currency was expected to test the $6.5 support level on September 5 before climbing to the $9.5 resistance level. The bears clung onto their market as the price fell below $6.5. Over the past two weeks, Uniswap’s price has gone up to $10.2. After that, it started to increase and tested the $12.0 resistance level. On December 09 it reexamined in the $13.9 zone after withdrawing.
Customers heeded the prior advice last week, and the price is heading towards previous high at $17.9.

Uniswap’s trading above the Hull Suite indicator for cryptocurrency signals indicates an upward trend. It might surpass resistance levels and reach the $19.7 to $22.8 levels if buying pressure comes back around $17.9. If sellers are able to break through the $16.3 support level, they may try to reassess the $13.8 and $12.0 levels.

UNI/USD Medium-term Trend: Bullish

The 4-hour chart for Uniswap shows an upward trend. Price hikes began as soon as the buyers acquired the $10.2 barrier level. Prices rose to $12.0 after the primary job was completed a few days ago. This is what happened when buyers put more pressure on their market. As purchasers became more apprehensive, prices jumped to the predefined level; the Uniswap rose in tandem with the bulls to the $17.9 level.

The price is currently above the dynamic support level. The market at Uniswap is erratic. A buying position is indicated by a positive QQE MOD signal histogram.

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