Uniswap Price Continues a Bearish Trend After a Pullback

Price may break down $12.0 barrier

Uniswap Price Analysis – 09 January

If buying pressure increases again around $13.8, it may break through resistance levels and hit the $16.3 to $18.0 levels. Sellers might attempt to reevaluate the $10.2 and $9.5 levels if they can break through the $12.0 support level.

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 Uniswap daily chart makes the “Double Top” bearish reversal indicator quite evident. On December 8, it was anticipated that the currency will bounce off the $18.0 resistance level and drop to the $13.8 support level. When the price dropped below $16.3, the bears held onto their market. The price of Uniswap has decreased to approximately $13.8 in recent weeks. After that, it began to decline and tested the support level of $12.0. On December 9, it was reexamined in the $12.0 zone after being removed. For the past two weeks, customers have been adhering to the earlier suggestions, and the price has been declining near $12.0.

A bearish trend is shown by Uniswap’s trading below the Hull Suite cryptocurrency signal indicator. If buying pressure increases again around $13.8, it may break through resistance levels and hit the $16.3 to $18.0 levels. Sellers might attempt to reevaluate the $10.2 and $9.5 levels if they can break through the $12.0 support level.

UNI/USD Medium-term Trend: Bearish

Uniswap’s 4-hour chart indicates a declining trend. As soon as the customers reached the $16.3 barrier, price reductions started. After the big job was finished a few days ago, prices increased to $18.0. When sellers increased the pressure on their market, this is what transpired. Prices dropped to the predetermined level as selling became more anxious; the Uniswap followed the bears’ lead and dropped to $12.0.
Right now, the price is below the dynamic support level. At Uniswap, the market is unpredictable. A negative QQE MOD signal histogram indicates a selling position.

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