Uniswap (UNIUSD) Price May Retest $4.0 Before a Rebound Occur

Sellers are dominating Uniswap market

Uniswap Price Analysis – 05 October

If there is enough buying pressure to move past the $4.4 resistance level, the $4.7 and $5.0 resistance levels may be broken. If sellers successfully drive Uniswap below the $4.0 support level, the price levels of $3.5 and $3.1 will be tested.

UNI/USD Market

Key Levels:

Resistance levels: $4.4, $4.7, $5.0,

Support levels: $4.0, $3.5, $3.1

UNI/USD Long-term Trend: Bearish

On the daily chart for Uniswap, a bearish tilt can be seen. Sellers are currently attempting to halt a further increase above the $4.4 mark. In the previous month, supportive pressure was applied to the cryptocurrency. The price must increase in order to pass the $4.4 barrier level. When the $6.6 high was tested, the bullish fervor diminished. A sizable bearish daily candle appeared on October 02 and the price started to fall. Prior support levels of $4.4 were broken by the fall. Price is currently facing the support level of $4.0 levels after crossing the $4.4 support level.

Trading below the two EMAs on Uniswap suggests a bearish trend. If there is enough buying pressure to move past the $4.4 resistance level, the $4.7 and $5.0 resistance levels may be broken. If sellers successfully drive the price below the $4.0 support level, the price levels of $3.5 and $3.1 will be tested. The period 14 relative strength indicator arches downward at level 43, indicating a sell.

UNI/USD Medium-term Trend: Bearish

Uniswap 4-hour chart is on a bearish movement. Numerous challenges were overcome by the cryptocurrency, including those at price points of $6.1 and $6.4. When the sellers maintained the $6.6 barrier level, the price started to decline. Due to greater vendor pressure, the price has decreased to $4.0. It pulled back and retested $4.7 zone. The sellers are currently prevailing in the Uniswap market.

The sellers is currently applying price pressure. Relative strength index period 14 is heading down at level 37, a sell signal.

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