Uniswap Price Is on Downtrend

Price may pull back at $4.0 level

Uniswap Price Analysis – 16 October

Uniswap is displaying a pretty unfavorable trend. It can surpass the $6.0 resistance level and hit the $7.0 to $8.0 potential if buying pressure picks up at $5.0. If they can overcome the $5.0 counterargument, merchandisers can try to reevaluate the $4.0 and $3.0 prospects.

UNI/USD Market

Key Levels:

Resistance levels: $6.0, $7.0, $8.0

Support levels: $5.0, $4.0, $3.0

UNI/USD Long-term Trend: Bearish

The $8.0 mark on the Uniswap daily chart indicates strong bearish momentum. The cryptocurrency created a “Head and Shoulder” chart pattern after peaking on August 13 extremely near the $10.0 resistance level. This paved the way for a downward run that ultimately reached the $5.0 barrier level. The bears stick onto their profits as the stock drops again. Yesterday, Uniswap’s price fell to about $6.0. It then continued to decline until it reached $5.0. Bears may fall if they engage in combat with bulls at the proper level. At $5.0.line, it is presently attempting to recover.

As it trades slightly below the Hull Suite cryptocurrency signal indicator, Uniswap is displaying a pretty unfavorable trend. It can surpass the $6.0 resistance level and hit the $7.0 to $8.0 potential if buying pressure picks up at $5.0. If they can overcome the $5.0 counterargument, merchandisers can try to reevaluate the $4.0 and $3.0 prospects.

UNI/USD Medium-term Trend: Bearish

The 4-hour chart for Uniswap showed a negative reversal trend. The price reduction began when the companies hit the $9.5 mark. A few days after the price reduction was verified, charges dropped to $6.0. This occurred as merchants increased the pressure on their demands. As trade grew increasingly cautious, prices dropped below the predefined level; the Uniswap came close to $6.0 before testing $5.0. After falling from its high, the currency begins to lose value. Bears seem to be holding the market at the moment.

At the moment, the price is above the dynamic support level. The request is drawing nearer at Uniswap. A selling position is indicated by a negative QQE MOD signal histogram.

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