Uniswap Price Retesting $5.8 Support Level

Bullish trend may continue after retracement

Uniswap Price Analysis – 15 May

If buying pressure increases Uniswap $5.8, it can break through the $6.5 resistance level and move up to the $7.4 to $8.2 scenarios. Merchandisers may attempt to reconsider the $5.4 and $4.8 options if they are able to violate the $5.8 support attitude.

UNI/USD Market

Key Levels:

Resistance levels: $6.5. $7.4, $8.2

Support levels: $5.8, $5.4, $5.1

UNI/USD Long-term Trend: Bullish

The Uniswap daily chart’s “double bottom” is a bullish reversal index that is clearly seen in the $5.4 region. In April, it was anticipated that the cryptocurrency will drop below the $5.4 support level and reach the $5.1 support level. At $5.4, when the price bounces back, the bulls cling onto their desires. The price of Uniswap has increased to roughly $7.4 on 10^th May. Additionally, it began to pull back before rising again, getting closer to the $5.8 mark.

A favorable trend is shown by Uniswap’s trading above the Hull Suite cryptocurrency signal recommendation. If buying pressure increases around $5.8, it can break through the $6.5 resistance level and move up to the $7.4 to $8.2 scenarios. Merchandisers may attempt to reconsider the $5.4 and $4.8 options if they are able to violate the $5.8 support attitude.

UNI/USD Medium-term Trend: Bullish

Uniswap’s 4-hour map displays a trend of positive reversal. As soon as the sellers reached the $5.1 barrier, price increase started. A few days after the major refurbishment was finished, prices went up to $5.4. As buyers put more pressure on their desire, this happened. Prices rose to the predetermined point as dealing became more cautious; the Uniswap fell tested $7.4 and currently retracing toward $5.8.

At the moment, the price is higher than the dynamic support position. At Uniswap, the request is getting closer. A positive QQE MOD signal histogram indicates a buying position.