Uniswap (UNIUSD) Price May Experience a Bullish Reversal at $6.7 Level
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Uniswap (UNIUSD) Price May Experience a Bullish Reversal at $6.7 Level

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Azeez Mustapha

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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.

Uniswap (UNIUSD) Price May Experience a Bullish Reversal at $6.7 Level

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.

Uniswap (UNIUSD) Price May Experience a Bullish Reversal at $6.7 Level

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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