Uniswap Price: Seller Defends $12.0 Resistance Level

Bearish pressure continues in Uniswap market

Uniswap Price Analysis – 28 August

If buying pressure increases at $9.0, it can break through the $10.0 resistance level and reach the $11.0 to $12.0 potential. Merchandisers can attempt to reassess the $8.0 and $7.0 prospects if they are able to overcome the $9.0 opposing perspective.

UNI/USD Market

Key Levels:

Resistance levels: $10.0, $11.0, $12.0

Support levels: $9.0, $8.0, $7.0

UNI/USD Long-term Trend: Bearish

The Uniswap daily chart’s $12.0 zone shows a lot of bearish momentum. On May 8, the cryptocurrency bottomed very close to the $5.4 support level and established a double bottom chart pattern. This set off a bullish run that eventually hit the $11.0 barrier level. As the price increases once more, the bulls hold onto their gains. The price of Uniswap dropped to roughly $10.0 last week. After then, it kept declining until it hit $9.0.0. Once bulls have fought bears at the proper level, they fall. It is currently making an effort to break below the $9.0 mark.

A downward trend is indicated by Uniswap’s trading below the Hull Suite cryptocurrency signal indicator. If buying pressure increases at $9.0, it can break through the $10.0 resistance level and reach the $11.0 to $12.0 potential. Merchandisers can attempt to reassess the $8.0 and $7.0 prospects if they are able to overcome the $9.0 opposing perspective.

UNI/USD Medium-term Trend: Bearish

Uniswap’s 4-hour chart displayed a bearish reversal trend. When the companies reached the $9.5 barrier, the price increase started. Charges increased to $10.5 a few days after the price increase was confirmed. As merchants put more pressure on their demands, this happened. Prices rose to the predetermined level as trade became more cautious; the Uniswap touched $10.5 before testing $12.0. The coin starts a negative trend after bouncing off the previously noted high.

The price is now trading below the dynamic support level. At Uniswap, the request is getting closer. A negative QQE MOD signal histogram indicates a selling position.