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Bulls’ momentum may increase in Uniswap market
Uniswap Price Analysis – 02 May
Sell pressure below $6.4 might completely destroy the support levels of $4.9 and $3.9. If buyers can push the price above the $7.4 resistance level, the price may revisit $7.9 and $8.2 levels.
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
The daily chart of Uniswap clearly shows a declining trend. On March 6, the coin was testing against the $17.5 resistance level. As long as bears maintained the previously set level, the price dropped. The price of cryptocurrency has been declining over the last few days, testing the $6.4 mark. It tested the $8.2 resistance level before rising as a pullback. Sellers maintained the aforementioned standard. The market was driven southward by consumers. The price is currently falling toward the $4.9 mark.
The fact that Uniswap is trading below the Hull Suite indicator of cryptocurrency signals suggests a negative trend. Sell pressure below $6.4 might completely destroy the support levels of $4.9 and $3.9. If buyers can push the price above the $7.4 resistance level, the price may revisit $7.9 and $8.2 levels.
UNI/USD Medium-term Trend: Bearish
Uniswap’s 4-hour chart indicates a decline in movement. As soon as the sellers kept the $17.5 barrier level, price reductions started. The previous highs of $8.2 and $10.1 were shattered a few days ago with the successful completion of many projects with price values as high as $17.0. As the pressure from sellers increased, this is what transpired. Prices dropped as bears held onto the previously advised level and purchasers’ enthusiasm waned around the resistance level of $17.0. Right now, the price is solidifying.
At the time, the price is dropping below the dynamic support level. In Uniswap, there is market volatility. The QQE MOD indicator histogram that is negative indicates a selling position.
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