Uniswap Price: Will There a Further Price Reduction?

Uniswap shows a downward trend

Uniswap Price Analysis – 27 February

If buying pressure increases around $9.5 again, it can break through resistance levels and hit the $10.2 to $12.0 levels. Sellers might attempt to reevaluate the $7.8 and $6.8 levels if they can break through the $8.8 support level.

UNI/USD Market

Key Levels:

Resistance levels: $8.2, $8.8, $9.6

Support levels: $7.4, $6.8, $5.6

UNI/USD Long-term Trend: Bearish

The “Double Top” bearish reversal indicator is clearly visible on the Uniswap daily chart. It was predicted on December 8 that the currency will rise above the resistance level of $18.0 and fall to the support level of $13.8. The bears clung onto their market after the price fell below $12.0. In recent weeks, Uniswap’s pricing has dropped to about $9.6. After that, it started to fall and tested the $8.8 support level. It was taken out and reexamined in the $12.0 range on December 9. Customers have been following the previous recommendations for the last two weeks, and the price has dropped to about $7.4.

Uniswap’s trading below the Hull Suite cryptocurrency signal indication indicates a bearish trend. It can overcome resistance levels and reach the $8.8 to $9.6 levels if buying pressure picks up around $8.2 once more. If sellers are able to break through the $7.4 support level, they may try to reassess the $6.8 and $5.6 levels.

UNI/USD Medium-term Trend: Bearish

The 4-hour chart for Uniswap shows a downward trend. Price cuts began as soon as the buyers hit the $16.3 threshold. Prices dropped to $9.6 after the large project was completed a few days ago. This is what happened when sellers put more pressure on their market. As selling grew increasingly nervous, prices fell to the predefined level; the Uniswap followed the bears’ lead and fell to $7.4.

The price is currently below the dynamic support level. The market at Uniswap is erratic. A selling position is indicated by a negative QQE MOD signal histogram.