Uniswap (UNIUSD) Price Repels at $17.0 Resistance Level

Uniswap price is selling

Uniswap Price Analysis – 04 April

Sell pressure below $10.1 might completely destroy the support levels at $8.2 and $7.1. If buyers are successful in moving the price past the $11,4 resistance level, the $12.7 and $15.4 price levels might be retested.

UNI/USD Market

Key Levels:

Resistance levels: $11.4, $12.7, $15.4

Support levels: $10.1, $8.2, $7.1

UNI/USD Long-term Trend: Bearish

Uniswap’s daily chart unmistakably displays a negative trend. On February 6, the cryptocurrency tested the $5.6 support level. After bulls held the previously set level, the price increased. The price of cryptocurrency has increased to $17.0 during the past few days. Sellers defended the criterion that was previously mentioned. The market was driven southward by consumers. A large, strong daily bearish candle appeared on March 16. The price fell to test the $10.1 barrier, it pulled back last week to retest $12.7 level. At the moment, it is heading towards the previous low of $10.1.

The fact that Uniswap is trading below the Hull Suite indicator of cryptocurrency signals suggests a negative trend. Sell pressure below $10.1 might completely destroy the support levels at $8.2 and $7.1. If buyers are successful in moving the price past the $11,4 resistance level, the $12.7 and $15.4 price levels might be retested.

UNI/USD Medium-term Trend: Bearish

The 4-hour chart of Uniswap shows a decrease in movement. As soon as the sellers held the $17.0 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 buyers’ pressure. As buyers’ enthusiasm wanes at the resistance level of $17.0, bears are hanging onto the previously recommended level, which is causing prices to drop.

The price is currently falling below the dynamic support level. There is market volatility in Uniswap. The negative QQE MOD indicator histogram indicates a selling position.

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