Bulls may dominate Uniswap market soon
Uniswap Price Analysis – 18 April
Sell pressure below $6.7 has the potential to completely smash the support levels of $6.4 and $4.9. If buyers are successful in pushing the price above the $10.1 resistance level, Uniswap may retest $11.4 and $12.7 levels.
UNI/USD Market
Key Levels:
Resistance levels: $10.1, $11.4, $12.7
Support levels: $6.7, $6.4, $4.9
UNI/USD Long-term Trend: Bearish
Uniswap’s daily chart exhibits an obvious decreasing trend. On March 6, the coin tested the $17.5 resistance level. When bears maintained the previously set level, the price dropped. The price of cryptocurrency has been declining over the past few days, approaching $8.2. Sellers maintained the previously stated standard. The market was driven southward by consumers. A large, strong daily bearish candle appeared on April 13. To test the $6.7 barrier, the price is falling.
The fact that Uniswap is trading below the Hull Suite indicator of cryptocurrency signals suggests a negative trend. Sell pressure below $6.7 has the potential to completely smash the support levels of $6.4 and $4.9. If buyers are successful in pushing the price above the $10.1 resistance level, the price may retest $11.4 and $12.7.
UNI/USD Medium-term Trend: Bearish
The 4-hour chart of Uniswap shows a decrease in movement. As soon as the sellers kept the $17.5 barrier level, price reductions started. A few days ago, several projects with price values as high as $17.0 were completed, shattering the previous highs of $8.2 and $10.1. This resulted from increased pressure from buyers. Prices declined as buyers’ enthusiasm dwindles close to the resistance level of $17.0, while bears are holding onto the previously recommended level. At the moment, the price is consolidating.
The price is currently falling below the dynamic support level. There is market volatility in Uniswap. The negative QQE MOD indicator histogram suggests a selling position.
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