Uniswap (UNIUSD) Price Increases As Bulls Gain Momentum

Market going higher after a retracement

Uniswap Price Analysis – 10 October

Should buying pressure reappear at $7.9, it has the potential to breach resistance levels at $8.8 and $9.5. Sellers might attempt to reevaluate the $6.8 and $6.5 levels if they are successful in breaking through the $7.2 support level

UNI/USD Market

Key Levels:

Resistance levels: $7.9, $8.8, $9.5

Support levels: $7.2, $6.8, $6.5

UNI/USD Long-term Trend: Bullish

The daily chart of Uniswap clearly shows a bullish reversal indicator. It was anticipated that the currency would advance to the resistance level at $7.9 after testing the $6.5 support level on September 5. The price dropped to $6.5, which caused bears to hold onto their positions. The cost of cryptocurrency has increased over the last two weeks, hitting $7.2 level. It then began to rise and tested the $7.9 resistance level. . It has retracted, and retested $6.8 zone. The buyers followed the previous directive. Once more, at that moment, the market is moving towards previous high.

An upward trend is shown by Uniswap’s trading above the Hull Suite indicator for cryptocurrency signals. Should buying pressure reappear at $7.9, it has the potential to breach resistance levels at $8.8 and $9.5. Sellers might attempt to reevaluate the $6.8 and $6.5 levels if they are successful in breaking through the $7.2 support level.

UNI/USD Medium-term Trend: Bullish

Uniswap’s 4-hour chart indicates an increasing trend. As soon as the sellers kept the $6.8 barrier level, price drops started. Significant work was finished a few days ago, and pricing values were as low as $6.5. When retailers increased the pressure on their customers, this is what transpired. Prices climb at the previously mentioned level as buyers get more and more nervous, while bears remain stable at that same level. As the bulls gained momentum, so did the Uniswap. Since then, though, it has risen and tested the $7.9 mark, indicating a bullish trend.

Right now, the price is inclining far higher than the dynamic support level. In Uniswap, the market is less volatile. The QQE MOD signal histogram that is positive indicates a buy position.

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