Uniswap Price May Break Down $12.0 to Expose to $10.2 Level

Price is currently consolidating within $14.0 and $12.0

Uniswap Price Analysis – 01 January

If buying pressure returns around $14.0, it may break over 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: $14.0, $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 September 5, it was anticipated that the currency would test the $6.5 support level before rising to the $9.5 resistance level. When the price dropped below $6.5, the bears held onto their market. The price of Uniswap has increased to $13.8 within the last few weeks. It then began to rise and tested the resistance level of $18.0. On December 9, it was reexamined in the $12.0 zone after its removal. Last two weeks, customers followed the earlier advice, and the price went back from $16.3. It is approaching the $12.0 threshold.

A downward trend is indicated by Uniswap’s trading below the Hull Suite cryptocurrency signal indicator. If buying pressure returns around $14.0, it may break over 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 threshold level, 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 increasingly nervous; 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 Crypto signals histogram indicates a selling position.

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