Uniswap Price May Commence a Bullish Trend

Buyers are opposing sellers

Uniswap Price Analysis – 06 March

If buying pressure increases again around $8.2 in Uniswap market, it can break through resistance levels and hit the $8.8 to $9.6 levels. Sellers might attempt to reevaluate the $6.8 and $5.6 levels if they can break through the $7.4 support level.

UNI/USD Market

Key Levels:

Resistance levels: $8.2, $8.8, $9.6

Support levels: $7.4, $6.8, $5.6

UNI/USD Long-term Trend: Bearish

The Uniswap daily chart makes the “Double Top” bearish reversal indicator quite evident. On December 8, it was forecast that the currency would surge above the $18.0 resistance level and drop to the $13.8 support level. When the price dropped below $12.0, the bears held onto their market. The price of Uniswap has decreased to roughly $9.6 in recent weeks. It then began to decline, testing the $8.8 support level. On December 9, it was removed and reexamined in the $12.0 area. For the past two weeks, customers have been adhering to the prior suggestions, and the cost has decreased to roughly $7.4. A negative trend is shown by Uniswap’s trading below the Hull Suite cryptocurrency signal indication. If buying pressure increases again around $8.2, it can break through resistance levels and hit the $8.8 to $9.6 levels. Sellers might attempt to reevaluate the $6.8 and $5.6 levels if they can break through the $7.4 support level.

UNI/USD Medium-term Trend: Bearish

Uniswap’s 4-hour chart indicates a declining trend. As soon as the purchasers reached the $16.3 mark, price reductions started. After the big renovation was finished a few days ago, prices fell to $9.6. When sellers increased the pressure on their market, this is what transpired. Prices dropped to the predetermined level as selling became more apprehensive; the Uniswap followed the bears’ lead and dropped to $7.4.

Right now, the price is below the dynamic support level. At Uniswap, the market is unpredictable. A negative QQE MOD signal histogram indicates a buying position.

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