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Uniswap price may bounce up
Uniswap Price Analysis – 08 February
If the buying pressure continues over $6.4, the resistance levels at $7.1 and $7.9 might be obliterated. Uniswap levels of $4.9 and $3.8 will be put to the test if sellers are successful in pushing the price below the $5.7 support level.
UNI/USD Market
Key Levels:
Resistance levels: $6.4, $7.1, $7.9
Support levels: $5.7, $4.9, $3.8
UNI/USD Long-term Trend: Bullish
The daily chart of Uniswap clearly shows a positive movement. Over the past four weeks, there has been downward pressure on cryptocurrencies. Customers drove the market northward. Before last month’s surge, the previous resistance level of $6.4 was completely shattered. At $6.4, the price ran into $7.1 resistance level. The sad exhilaration faded when the $8.2 high was questioned. On January 02, a sizable bearish daily candle emerged, and the price began to decline once more, reaching $5.7 on January 25 before it pulled back and currently retesting $6.4 level.
The way Uniswap is trading to the Hull Suite suggests a positive trend. If the buying pressure continues over $6.4, the resistance levels at $7.1 and $7.9 might be obliterated. Uniswap levels of $4.9 and $3.8 will be put to the test if sellers are successful in pushing the price below the $5.7 support level with best forex sigbals. When the QQE MOD indicator is green and above zero level, it represents a buy signal.
UNI/USD Medium-term Trend: Bullish
Uniswap’s 4-hour chart exhibits bullish movement. The price began to drop as soon as the suppliers maintained the $8.2 barrier level. The low of $7.1 was broken lower on December 28 after multiple projects, some with price values of $7.1, were completed. Increased pressure from sellers led to this. As momentum increases, tests are conducted at the $5.7 support level. As bulls continue to defend the previously mentioned level, the price is presently increasing.
As of right now, the Uniswap market is not that volatile. A buy position is indicated by the positive histogram of the QQE MOD indicator.
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