Uniswap (UNIUSD) Price May Retest $6.8 Support Level

Sellers’ pressure increase in Uniswap market

Uniswap Price Analysis – 18 July

It might completely break the $7.2 and $6.8 support levels if selling pressure falls below $8.0. Buyers may need to reevaluate the $10.0 and $12.0 levels if they break above the $8.8 resistance level.

UNI/USD Market

Key Levels:

Resistance levels: $8.8, $10.0, 12.0

Support levels: $8.0, $7.2, $6.8,

UNI/USD Long-term Trend: Bearish

The daily chart of Uniswap clearly shows a negative trend. Reaching the resistance level at $17.5 was the aim of the coin’s test on March 6. As long as bears held the previously set level, the price dropped to $7.2. The price of cryptocurrencies has increased over the last two weeks, hitting $12.0. It then changed direction and began to descend, testing the $8.0 support level. The providers stuck to the previous requirement. The market pulls back to retest the $8.0 support level.

A downward trend is shown by Uniswap’s trading below the Hull Suite indicator for cryptocurrency signals. It might completely break the $7.2 and $6.8 support levels if selling pressure falls below $8.0. Buyers may need to reevaluate the $10.0 and $12.0 levels if they break above the $8.8 resistance level.

UNI/USD Medium-term Trend: Bearish

Uniswap’s 4-hour chart indicates a declining trend. As soon as the sellers kept the $12.0 barrier level, price reductions started. Significant work was finished a few days ago, and pricing values were as low as $7.2. When retailers increased the pressure on their customers, this is what transpired. Prices dropped as bears clung onto the previously recommended level and purchasers grew agitated near the $6.8 support level. As it lost momentum, the Uniswap bounced back and is currently falling; this could be a sign of a downward trend.

Right now, the price is falling a lot below the dynamic support level. In Uniswap, there is market volatility. The negative QQE MOD indicator histogram suggests a selling position.

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