Bearish momentum may continue
Uniswap Price Analysis – 15 January
It might overcome resistance levels $13.8 and reach the $16.3 to $18.0 levels if buying pressure picks up around $13.8 once more. If sellers are able to break through the $12.0 support level, they may try to reassess the $10.2 and $9.5 levels
UNI/USD Market
Key Levels:
Resistance levels: $13.8, $16.3, $18.0
Support levels: $12.0, $10.2, $9.5
UNI/USD Long-term Trend: Bearish
The “Double Top” bearish reversal indicator is clearly visible on the Uniswap daily chart. It was predicted on December 8 that the currency will rise above the resistance level of $18.0 and fall to the support level of $13.8. The bears clung onto their market after the price fell below $16.3. In recent weeks, Uniswap’s price has dropped to about $13.8. It then started to fall and tested the $12.0 support level. It was taken out and reexamined in the $12.0 range on December 9. Customers have been following the previous recommendations over the last two weeks, and the price has been dropping to about $12.0.
Uniswap’s trading below the Hull Suite cryptocurrency signal indication indicates a negative trend. It might overcome resistance levels $13.8 and reach the $16.3 to $18.0 levels if buying pressure picks up around $13.8 once more. If sellers are able to break through the $12.0 support level, they may try to reassess the $10.2 and $9.5 levels.
UNI/USD Medium-term Trend: Bearish
The 4-hour chart for Uniswap shows a downward trend. Price reductions began as soon as the buyers hit the $16.3 threshold. Prices went up to $18.0 after the large job was completed a few days ago. This is what happened when sellers put more pressure on their market. As selling got more nervous, prices fell to the predefined level; the Uniswap fell to $12.0, following the bears’ example.
The price is currently below the dynamic support level. The market at Uniswap is erratic. A selling position is indicated by a negative QQE MOD signal histogram.
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