Price is moving towards $14.0 zone
Uniswap Price Analysis – 26 December
It might overcome resistance levels and reach the $16.3 to $18.0 levels if buying pressure comes back around $14.0. If sellers are able to break through the $12.0 support level, they may try to reassess the $10.2 and $9.5 levels in Uniswap market.
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 “Double Top” bearish reversal indicator is clearly visible on the Uniswap daily chart. The currency was expected to test the $6.5 support level on September 5 before climbing to the $9.5 resistance level. The bears clung onto their market as the price fell below $6.5. Over the past two weeks, Uniswap’s pricing has gone up to $13.8. After that, it started to increase and tested the $18.0 resistance level. Following its withdrawal, it was reexamined in the $12.0 zone on December 9. Customers heeded the earlier advice last week, and the price recovered from $16.3. It is getting close to the $12.0 mark.
Uniswap’s trading below the Hull Suite indicator for cryptocurrency signals indicates a negative trend. It might overcome resistance levels and reach the $16.3 to $18.0 levels if buying pressure comes back around $14.0. If sellers are able to break through the $12.0 support level, they may try to reassess the $10.2 and $9.5 levels.
UNI/USD Medium-term Trend: Bearish
The 4-hour chart for Uniswap shows a downward trend. Price reductions began as soon as the buyers hit the $16.3 barrier level. Prices went up to $18.0 after the major job was completed a few days ago. This is what happened when sellers put more pressure on their market. As sellers were more anxious, prices fell to the predefined level; the Uniswap followed the bears’ example and fell towards $12.0.
The price is currently below the dynamic support level. The market at Uniswap is erratic. A selling position is indicated by a negative QQE MOD signal histogram.
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