Uniswap (UNIUSD) Price Breaks Up $7.9 Level

Price may reach $8.8 level

Uniswap Price Analysis – 24 October

If buying pressure returns at $8.2, it may break past resistance levels at $8.8 and $9.5. Sellers might attempt to reevaluate the $7.2 and $6.8 levels if they can break through the $7.9 support level.

UNI/USD Market

Key Levels:

Resistance levels: $8.2, $8.8, $9.5

Support levels: $7.9, $7.2, $6.8

UNI/USD Long-term Trend: Bullish

The Uniswap daily chart unquestionably shows a bullish reversal indicator. On September 5, it was anticipated that the currency would test the $6.5 support level before rising to the $7.9 resistance level. As the price dropped to $6.5, bears remained in their holdings. The price of cryptocurrency has increased during the last two weeks, hitting $7.2. Following that, it began to rise and tested the $7.9 resistance level. It retested the $6.8 zone after withdrawing.
The buyers followed the previous directive. At this moment, the market is above $7.9, targeting $8.2 level.

An upward trend is shown by Uniswap’s trading above the Hull Suite indicator for cryptocurrency signals. If buying pressure returns at $8.2, it may break past resistance levels at $8.8 and $9.5. Sellers might attempt to reevaluate the $7.2 and $6.8 levels if they can break through the $7.9 support level.

UNI/USD Medium-term Trend: Bullish

Uniswap’s 4-hour chart indicates an increasing trend. As soon as the sellers held the $6.8 barrier level, price drops started. When major work was finished a few days ago, pricing values were as low as $6.5. When retailers increased the pressure on their customers, this is what transpired. Prices climb at the previously mentioned level as buyers get more nervous, while bears remain stable at the same level. As the bulls surged, so did the Uniswap. But since then, it has risen and broke up the $7.9 mark, indicating a bullish trend.

At the moment, the price is sliding above the dynamic support level. In Uniswap, the market is less volatile. A positive QQE MOD signal histogram indicates a buy position.

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