Uniswap Price May Bounce Up at $5.4 Level

Sellers momentum is decreasing

Uniswap Price Analysis – 15 January

Traders may try to test the $4.8 and $4.0 levels if the stock drops below $5.4. The price may break through the $5.8 resistance and rise into the $6.0 and $6.4 levels if there is more buying pressure at $5.4.

UNI/USD Market

Key Levels:

Resistance levels: $5.8, $6.0, $6.4

Support levels: $5.4, $4.8, $4.0

UNI/USD Long-term Trend: Bearish

For the past three weeks, Uniswap’s price has risen above $6.0 and has been rising till it reaches $6.4. The bears are being actively pushed by the bulls. On the Uniswap daily chart, a bearish reversal is visible at $6.0. A notable bearish pattern was formed on January 5 as the price got closer to the $5.8 support level. As a result, the price dropped to $5.4. Since a bearish engulfing candle appeared, the price has been rapidly declining.

Traders may try to test the $4.8 and $4.0 levels if the stock drops below $5.4. The price may break through the $5.8 resistance and rise into the $6.0 and $6.4 levels if there is more buying pressure at $5.4. Because Uniswap is currently trading below the Hull Suite cryptocurrency signal indicator, it is currently in a negative trend.

UNI/USD Medium-term Trend: Bearish

A bearish reversal trend may be seen in the Uniswap 4-hour chart. After hitting $6.4, the price started to decline. The price fell to $5.8 a few days after the announcement. As merchants pushed for greater demands, this happened. The price fell below the predetermined level as traders grew more cautious; Uniswap reached $5.8 before falling to $5.4. The Uniswap market is now dominated by negative aspects.

The price is currently below the dynamic support level. There is no further interest in purchasing Uniswap. Selling pressure is indicated by a negative QQE MOD signal histogram.

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