Uniswap (UNIUSD) Price: Bearish Opposition at $8.2 Level

Market going lower as a sign of retracement

Uniswap Price Analysis – 17 October

It could break through resistance levels at $8.82 and $8.8 if buying pressure resurfaces at $7.9. If sellers are able to break through the $7.2 support level, they may try to reassess the $6.8 and $6.5 levels.

UNI/USD Market

Key Levels:

Resistance levels: $7.9, $8.2, $8.8

Support levels: $7.2, $6.8, $6.5

UNI/USD Long-term Trend: Bullish

There is no doubt that the Uniswap daily chart displays a bullish reversal indicator. The currency was expected to test the $6.5 support level on September 5 and then move up to the resistance level at $7.9. Bears held on to their positions as the price fell to $6.5. Over the past two weeks, the price of cryptocurrencies has risen, reaching a level of $7.2. After that, it started to increase and tested the resistance level of $7.9. After retracting, it retested the $6.8 zone.
The purchasers complied with the earlier instruction. The market is currently heading back to its previous peak once more.

Uniswap’s trading above the Hull Suite indicator for cryptocurrency signals indicates an upward trend. It could break through resistance levels at $8.82 and $8.8 if buying pressure resurfaces at $7.9. If sellers are able to break through the $7.2 support level, they may try to reassess the $6.8 and $6.5 levels.

UNI/USD Medium-term Trend: Bullish

The 4-hour chart for Uniswap shows an upward trend. Price declines began as soon as the sellers maintained the $6.8 barrier level. Pricing values were as low as $6.5 when significant work was completed a few days ago. This is what happened when retailers put more pressure on their customers. As buyers get increasingly anxious, prices rise at the aforementioned level, while bears stay steady at that same level. The Uniswap accelerated along with the bulls. However, it has since increased and tested the $7.9 level, suggesting a bullish trend.

The price is currently sloping lower than the dynamic support level. The market is less erratic in Uniswap. A sell position is indicated by a negative QQE MOD signal histogram.

Start using a world-class auto trading solution

You can purchase Lucky Block here Buy LBLOCK