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Uniswap price is decreasing
Uniswap Price Analysis – 22 February
If the buying pressure stays over $7.4, the resistance levels at $7.9 and $8.2 might be smashed. Uniswap levels of $6.4 and $5.6 will be put to the test if sellers are successful in pushing the price below the $7.1 support level.
UNI/USD Market
Key Levels:
Resistance levels: $7.4, $7.9, $8.2
Support levels: $7.1, $6.4, $5.6
UNI/USD Long-term Trend: Bearish
The daily chart of Uniswap clearly shows bearish movement. Over the past four weeks, there has been an increase in the price of cryptocurrencies. Customers drove the market northward. Before the previous month’s surge, the $6.4 resistance level was completely smashed. Following the $6.4 level, the price approached the $7.1 resistance level. The somber euphoria faded when the $7.4 high was called into doubt. On February 18, a sizable bearish daily candle emerged, and the price began to decrease once more. Right now, the $7.1 level is being tested.
The way Uniswap is trading to the Hull Suite suggests a negative trend. In the event that the buying pressure stays over $7.4, the resistance levels at $7.9 and $8.2 might be totally smashed. The price levels of $6.4 and $5.6 will be put to the test if sellers are successful in pushing the price below the $7.1 support level. When the QQE MOD indicator is green and above the zero level, it indicates a buy crypto signals.
UNI/USD Medium-term Trend: Bearish
Uniswap’s 4-hour chart indicates downward movement. The price began to drop as soon as the suppliers maintained the $7.9 barrier level. The low of $7.4 was broken lower yesterday after multiple projects, some with price values of $7.1, were successfully completed. Increased pressure from sellers led to this. As seller momentum increases, tests are conducted at the $7.1 support level. Bears are holding on to the previously mentioned level, which is why the price is currently declining.
Right now, there isn’t much volatility in the Uniswap market. A selling position is indicated by the negative QQE MOD indicator histogram.
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