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Buyers’ pressure may increase in Uniswap market
Uniswap Price Analysis – 25 April
The support levels of $6.4 and $4.9 might be destroyed by sell pressure below $7.4. Uniswap may revisit $8.2 and $10.1 if buyers can lift the price over the resistance level of $7.9.
UNI/USD Market
Key Levels:
Resistance levels: $7.9, $8.2, $10.1
Support levels: $7.4, $6.4, $4.9
UNI/USD Long-term Trend: Bearish
The daily chart of Uniswap clearly shows a declining trend. The coin tested the $17.5 resistance level on March 6. The price fell as long as bears held the previously established level. Over the previous few days, the price of cryptocurrencies has been falling and tested $6.4 level. It bounced up as a pullback and tested the resistance level of $8.2. Sellers upheld the previously mentioned norm. Customers pushed the market southward. The price is now increasing to test $7.9 level.
A downward trend is indicated by the fact that Uniswap is trading below the Hull Suite indicator of cryptocurrency signals. The support levels of $6.4 and $4.9 might be totally destroyed by sell pressure below $7.4. The price may revisit $8.2 and $10.1 if buyers are able to lift the price over the resistance level of $7.9.
UNI/USD Medium-term Trend: Bearish
Uniswap’s 4-hour chart indicates a decline in movement. Price reductions began as soon as the sellers maintained the $17.5 barrier level. The previous highs of $8.2 and $10.1 were shattered a few days ago with the successful completion of multiple projects with price values as high as $17.0. Sellers pressure intensified, and this is what happened. Prices dropped as bears held onto the previously advised level and purchasers’ enthusiasm waned around the resistance level of $17.0. The price is consolidating right now.
At the moment, the price is dropping below the dynamic support level. In Uniswap, there is market volatility. A selling position is indicated by the QQE MOD indication histogram that is negative.
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