Uniswap Price Is Currently in a Negative Trend

Bearish forces are in control of Uniswap market.

Uniswap Price Analysis – 18 December

If the price drops below $4.8, traders might look to test the $4.0 and $3.5 levels. If there is increased buying pressure at $5.4, the price could break through the $6.0 resistance and move toward the $7.4 level.

UNI/USD Market

Key Levels:

Resistance levels: $5.4, $6.0, $7.40

Support levels: $4.8, $4.0, $3.5

UNI/USD Long-term Trend: Bearish

Uniswap’s price went above $7.40 last two weeks and kept rising until it reached $9.1. The bears are actively opposing the bulls. On the daily chart of Uniswap, the $7.4 level shows a strong sign of bearish reversal. On November 11, the price came very close to the $5.4 resistance level, forming a notable bearish pattern. The price was then pulled down to $4.8 because of this. The price has been slowly falling since the appearance of a bearish engulfing candle.

If the price drops below $4.8, traders might look to test the $4.0 and $3.5 levels. If there is increased buying pressure at $5.4, the price could break through the $6.0 resistance and move toward the $7.4 level. Uniswap is currently in a negative trend as it is trading below the Hull Suite cryptocurrency signal indicator.

UNI/USD Medium-term Trend: Bearish

Uniswap’s 4-hour chart displayed a bearish reversal pattern. The price started to fall once the price reached the $10.2 mark. A few days after the price increase was announced, the price dropped to $7.4. This happened as merchants pushed for higher demands. As traders became more cautious, the price went above the set level, with Uniswap reaching $6.0 before falling to $5.4. The bearish forces are currently in control of the Uniswap market.

At the moment, the price is below the dynamic support level. The buying interest is nearly exhausted on Uniswap. A negative QQE MOD signal histogram suggests a selling pressure.

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