Bears’ momentum may not increase in Uniswap market
Uniswap Price Analysis – 09 May
The support levels of $4.9 and $3.9 might be totally destroyed by sell pressure below $6.4. The $7.9 and $8.2 levels may be revisited if buyers can drive Uniswap above the resistance level of $7.4.
UNI/USD Market
Key Levels:
Resistance levels: $7.4, $7.9, $8.2
Support levels: $6.4, $4.9, $3.9
UNI/USD Long-term Trend: Bearish
Uniswap’s daily chart unmistakably displays a downward trend. The $17.5 resistance level was the target of the coin’s test on March 6. The price fell as long as bears held the previously established level. Over the past two days, the price of cryptocurrencies has been falling and has tested $6.4. It reversed course and rose to challenge the $8.2 resistance level. Sellers upheld the previously established norm. Customers pushed the market southward. Right now, the price is ranging between $6.4 and $7.4.
A downward trend is indicated by the fact that Uniswap is trading below the Hull Suite indicator of cryptocurrency signals. The support levels of $4.9 and $3.9 might be totally destroyed by sell pressure below $6.4. The $7.9 and $8.2 levels may be revisited if buyers can drive the price above the resistance level of $7.4.
UNI/USD Medium-term Trend: Bearish
The 4-hour chart of Uniswap shows a decrease in movement. Price reductions began as soon as the sellers maintained the $17.5 barrier level. A few days ago, numerous projects with price values as high as $17.0 were successfully completed, shattering the previous highs of $8.2 and $10.1. This is what happens when merchants put more pressure on the buyer. Prices fell as buyers’ excitement subsided around the resistance level of $17.0 and bears clung to the previously recommended level. The pricing is settling in right now.
The price is currently falling below the level of dynamic support. There is market volatility in Uniswap. A selling position is indicated by the QQE MOD indication histogram, which is negative.
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