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Uniswap price may pull back
Uniswap Price Analysis – 28 March
The support levels at $10.1 and $8.2 might be obliterated if selling pressure persists above $11.4. Should purchasers succeed in pushing Uniswap above the resistance level of $12.7, the price levels of $15.4 and $17.0 may be retested.
UNI/USD Market
Key Levels:
Resistance levels: $12.7, $15.4, $17.0
Support levels: $11.4, $10.1, $8.2
UNI/USD Long-term Trend: Bearish
The daily chart of Uniswap clearly shows a bearish trend. The cryptocurrency tested the $5.6 support level on February 6. The price rose after bears held the previously established level. In the last several days, the price of cryptocurrencies has risen to $17.0. Sellers defended the previously stated threshold. Customers drove the market southward. On March 16, a sizable, strong daily bearish candle emerged. It broke through the $15.4 mark, and the price dropped to test the $10.1 barrier.
A downward trend is indicated by the fact that Uniswap is trading below the Crypto signals indicator; Hull Suite. The support levels at $10.1 and $8.2 might be obliterated if selling pressure persists above $11.4. Should purchasers succeed in pushing the price above the resistance level of $12.7, the price levels of $15.4 and $17.0 may be retested.
UNI/USD Medium-term Trend: Bearish
Uniswap’s 4-hour chart indicates a decline in movement. Price declines began as soon as the sellers maintained the $17.0 barrier level. The previous highs of $8.2 and $10.1 were shattered a few days ago with the successful completion of multiple projects with price values as high as $17.0. Increased pressure from buyers led to this. Prices are currently falling as a result of bears holding onto the previously advised level as buyers’ enthusiasm declines at the resistance level of $17.0.
To retest the dynamic support level, the price is currently declining. In Uniswap, there is market volatility. A purchasing position is indicated by the positive QQE MOD indicator histogram.
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