Uniswap Price Tests Previous Low $4.8

Buyers may defend $4.8 barrier

Uniswap Price Analysis – 22 January

If the crypto falls below $4.8, traders might attempt to test the $4.0 and $3.5 levels. If there is more buying pressure at $5.4, the price might overcome the $5.8 barrier and move up into the $6.0 levels.

UNI/USD Market

Key Levels:

Resistance levels: $5.4, $5.8, $6.0

Support levels: $4.8, $4.0, $3.5

UNI/USD Long-term Trend: Bearish

The price of Uniswap has increased over the last four weeks, surpassing $6.0 and continuing to rise till it reaches $6.4. The bulls are actively pushing the bears. A negative reversal can be seen at $6.0 on the Uniswap daily chart. As the price approached the $5.8 support level on January 5, a significant bearish pattern was established. Consequently, the price fell to $5.4. The price has been falling quickly since the appearance of a bearish engulfing candle.

If the crypto falls below $4.8, traders might attempt to test the $4.0 and $3.5 levels. If there is more buying pressure at $5.4, the price might overcome the $5.8 barrier and move up into the $6.0 levels. Uniswap is presently in a bearish trend since it is trading below the Hull Suite cryptocurrency signal indicator.

UNI/USD Medium-term Trend: Bearish

The Uniswap 4-hour chart shows a negative reversal trend. The price began to drop after reaching $6.4. A few days following the announcement, the price dropped to $5.8. This occurred as merchants pushed for higher demands. As traders became increasingly cautious, the price dropped below the set level; Uniswap hit $5.8 before dropping to $5.4. Negative factors now dominate the Uniswap market.

Right now, the price is below the level of dynamic support. Purchasing Uniswap is no longer of interest. A negative QQE MOD signal histogram indicates selling pressure.

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