Uniswap Price: Sellers Hold Unto Market

Sellers’ momentum doubled

Uniswap Price Analysis – 09 October

If buying pressure increases at $7.0, it can break over the $8.0 resistance level and reach the $9.0 to $10.0 potential. Merchandisers can attempt to reassess the $6.0 and $5.0 prospects if they are able to overcome the $7.0 counterargument.

UNI/USD Market

Key Levels:

Resistance levels: $8.0, $91.0, $10.0

Support levels: $7.0, $6.0, $5.0

UNI/USD Long-term Trend: Bearish

On the Uniswap daily chart, the $12.0 mark denotes significant bearish momentum. The cryptocurrency peaked very close to the $10.0 resistance level on August 13 and then formed a “Head and Shoulder” chart pattern. This set up a negative run that eventually hit the $9.0 barrier level. As the price declines once more, the bears hold onto their profits. The price of Uniswap dropped to roughly $7.0 yesterday. After that, it kept falling until it hit $7.0. If bears fight bulls at the right level, they might fall. It is currently trying to recover at $7.0.line.

Uniswap is showing a rather negative trend while trading just below the Hull Suite cryptocurrency signal indicator. If buying pressure increases at $7.0, it can break over the $8.0 resistance level and reach the $9.0 to $10.0 potential. Merchandisers can attempt to reassess the $6.0 and $5.0 prospects if they are able to overcome the $7.0 counterargument.

UNI/USD Medium-term Trend: Bearish

Uniswap’s 4-hour chart displayed a bearish reversal trend. When the companies reached the $9.5 level, the price reduction started. Charges decreased to $9.0 a few days after the price reduction was confirmed. As merchants put more pressure on their demands, this happened. Prices fell to the predetermined level as trade became more cautious; the Uniswap approached $8.0 before testing $7.0. The currency starts to depreciate after plunging from its peak. It appears that bears are currently hold to the market.

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

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