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Bulls’ pressure is increasing in Uniswap market
Uniswap Price Analysis – 23 May
If there is sell pressure below $9.0, the $8.3 and $7.9 support levels might be totally destroyed. The $10.2 and $11.4 levels may be reexamined if buyers can drive Uniswap above the resistance level of $9.5.
UNI/USD Market
Key Levels:
Resistance levels: $9.5, $10.2, $11.4
Support levels: $9.0, $8.3, $7.9
UNI/USD Long-term Trend: Bullish
Uniswap’s daily chart distinctly displays an upward trend. The goal of the coin’s test on March 6 was to reach the resistance level at $17.5. The price fell to $7.9 level as long as bears held the previously established level. Over the past two days, the price of cryptocurrencies has been rising and has tested broken up $8.3 and 9.0. It pivoted and ascension testing the $9.5 resistance level. The buyers stuck to the earlier standard. Customers pushed the market northward. The price range as of right now is $9.0 to $9.5 levels.
Uniswap is trading above the cryptocurrency signals Hull Suite indicator, indicating a favorable trend. If there is sell pressure below $9.0, the $8.3 and $7.9 support levels might be totally destroyed. The $10.2 and $11.4 levels may be reexamined if buyers can drive the price above the resistance level of $9.5.
UNI/USD Medium-term Trend: Bullish
The 4-hour chart from Uniswap shows an upward movement. Price reductions began as soon as the sellers maintained the $17.5 barrier level. A few days ago, a significant amount of work was completed with pricing values as low as $7.9. This is what happens when retailers put more pressure on the consumer. Prices fell as buyers’ enthusiasm waned around the resistance level of $17.0 and bears held onto the previously suggested level. The Uniswap bounced up and is currently increasing as their gains strength and could be the start of a bullish trend.
The price is currently soaring over the dynamic support level. There is market volatility in Uniswap. A purchasing position is indicated by the positive QQE MOD indicator histogram.
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