Uniswap (UNIUSD) Price: Bearish Movement May Continue

Sellers are dominating Uniswap market

Uniswap Price Analysis – 11 July

If selling pressure drops below $8.0, the $7.2 and $6.8 support levels might be totally destroyed. If buyers break above the $8.8 resistance level, they could need to reconsider the $10.0 and $12.0 levels.

UNI/USD Market

Key Levels:

Resistance levels: $8.8, $10.0, 12.0

Support levels: $8.0, $7.2, $6.8,

UNI/USD Long-term Trend: Bearish

Uniswap’s daily chart distinctly displays a downward trend. The goal of the coin’s test on March 6 was to reach the resistance level at $17.5. The price fell to $7.2 as long as bears maintained the previously established level. Over the past two weeks, the price of cryptocurrency has risen, reaching $12.0. Following that, it reversed course and started to drop, testing the $8.0 support level. The suppliers followed the earlier standard. In order to retest the $8.0 support level, the market declines.

Uniswap’s trading below the Hull Suite indicator for cryptocurrency signals indicates a negative trend. If selling pressure drops below $8.0, the $7.2 and $6.8 support levels might be totally destroyed. If buyers break above the $8.8 resistance level, they could need to reconsider the $10.0 and $12.0 levels.

UNI/USD Medium-term Trend: Bearish

The 4-hour chart of Uniswap shows a downward trend. Price reductions began as soon as the sellers maintained the $12.0 barrier level. A few days ago, significant work was completed, and pricing values were as low as $7.2. This is what happened when retailers put more pressure on their customers. Prices fell as buyers were increasingly impatient around the $6.8 support level and bears held onto the previously advised level. The Uniswap recovered as it lost traction and is now declining; this could be an indication of a downward trend.

The price is currently dropping significantly below the dynamic support level. There is market volatility in Uniswap. A selling position is indicated by the QQE MOD indication histogram that is negative.

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