Uniswap Price: Sellers Are Exerting More Pressure

Sellers are holding unto Uniswap market

Uniswap Price Analysis – 01 May

If buying pressure increases around $5.1, it can break through the $5.4 resistance level and move up to the $5.8 to $6.5 scenarios. Merchandisers may attempt to reevaluate the $4.8 and $4.6 scenarios if they are qualified to breach the $5.1 support position.

UNI/USD Market

Key Levels:

Resistance levels: $5.4, $5.8, $6.5

Support levels: $5.1, $4.8, $4.6

UNI/USD Long-term Trend: Bearish

On the Uniswap daily chart, the “double top” is a bearish reversal index that is clearly visible at $6.087 zone. On December 8, it was predicted that the currency would climb above the $18.0 resistance level and down to the $8.24.8 support level. As the price dropped below $5.8, the bears clung to their demands. The price of Uniswap has decreased to roughly $4.8 in recent weeks. Additionally, it began to decline before rising again, getting close to the $5.1 mark.

A bearish trend is shown by Uniswap’s trading below the Hull Suite cryptocurrency signal suggestion. If buying pressure increases around $5.1, it can break through the $5.4 resistance level and move up to the $5.8 to $6.5 scenarios. Merchandisers may attempt to reevaluate the $4.8 and $4.6 scenarios if they are qualified to breach the $5.1 support position.

UNI/USD Medium-term Trend: Bearish

Uniswap’s 4-hour map displays a trend of negative reversal. As soon as the purchasers reached the $16.3 mark, price reductions started. A few days after the extensive renovation was finished, prices fell to $5.4. When merchandisers put more pressure on their request, this is what happened. Prices fall to the predetermined position as dealing becomes more cautious; the Uniswap followed the bears’ example and fell to $4.8.

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

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