Uniswap Price May Continue Declining

Selling pressure increases

Uniswap Price Analysis – 06 November

If retailers are able to overcome the $5.0 counterargument, they can attempt to review the $6.0 and $7.0 prospects. It can overcome the $4.7 support level and reach the $3.5 to $3.0 potential if selling pressure picks up at $5.0.

UNI/USD Market

Key Levels:

Resistance levels: $5.0, $6.0, $7.0

Support levels: $4.7, $3.5, $3.0

UNI/USD Long-term Trend: Bearish

Yesterday, the price of Uniswap fell to roughly $5.0, and it kept going down until it reached $5.0. Bears may fall if bulls and bears battle at the appropriate level. The $7.0 mark on the Uniswap daily chart denotes strong bearish momentum. The cryptocurrency formed a “Head and Shoulder” chart pattern on August 13, when it crested very near the $10.0 resistance level. This cleared the way for a drop that ultimately reached the $4.7 barrier level.

If retailers are able to overcome the $5.0 counterargument, they can attempt to review the $6.0 and $7.0 prospects. Uniswap is trading below the Hull Suite cryptocurrency signal indicator, indicating a generally unfavorable trend. It can overcome the $4.7 support level and reach the $3.5 to $3.0 potential if selling pressure picks up at $5.0.

UNI/USD Medium-term Trend: Bearish

Uniswap’s 4-hour chart displayed a bearish reversal trend. When the companies reached the $9.5 threshold, the price drop started. Charges decreased to $6.0 a few days after the price reduction was confirmed. As merchants put more pressure on their demands, this happened. Prices fell below the predetermined level as trade became more cautious; the Uniswap came close to $5.0 before testing $4.7. The currency starts to lose value after declining from its peak. Bears seem to be in control of the market at the moment.
The price is currently lower than the dynamic support level. At Uniswap, the request is getting closer. A negative QQE MOD signal histogram indicates a selling position.

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