Uniswap (UNIUSD) Price Breaks Down $4.0, Targeting $3.5 Level

Sellers are in charge of Uniswap market

Uniswap Price Analysis – 19 October

If there is sufficient buying pressure to break through the $4.0 resistance level, the $4.4 and $4.7 resistance levels might be broken. If sellers are successful in driving the price below the $3.5 support level, the price levels of $3.1 and $2.4 will be put to the test.

UNI/USD Market

Key Levels:

Resistance levels: $4.0, $4.4, $4.7

Support levels: $3.5, $3.1, $2.4

UNI/USD Long-term Trend: Bearish

On Uniswap’s daily chart, there is a noticeable downward tilt. As of right now, sellers are keeping the market from rising beyond $4.4. The cryptocurrency was under supportive pressure during the previous month. For the price to surpass the $4.4 barrier, it must rise. When the $6.6 high was challenged, the bullish fervor subsided. A large bearish daily candle formed on October 2, at which point the price started to drop. The $4.4 prior support level was destroyed by the slide. The price is currently firmly pressing towards the $3.5 support level after breaking through the $4.0support level.

An indication of a bearish trend is the trading of Uniswap below the two EMAs. If there is sufficient buying pressure to break through the $4.0 resistance level, the $4.4 and $4.7 resistance levels might be broken. If sellers are successful in driving the price below the $3.5 support level, the price levels of $3.1 and $2.4 will be put to the test. The period 14 relative strength indicator forms a downward arch at level 34, indicating a sell.

UNI/USD Medium-term Trend: Bearish

The Uniswap 4-hour chart is trending downward. Numerous challenges were overcome by the coin, including those with price points of $4.7 and $4.4. Uniswap started to decline once the sellers maintained the $4.4 barrier level. Due to greater vendor pressure, the price has decreased below $4.0. In the current Uniswap market, sellers are in charge.

Price pressure is currently coming from sellers. The relative strength index period 14 negative trend at level 37 indicates a sell signal.

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