Uniswap price may be rejected at $4.0 level
Uniswap Price Analysis – 12 October
The $4.7 and $5.0 resistance levels might be broken if there is enough buying pressure to go past the $4.4 resistance level. Uniswap levels of $3.5 and $3.1 will be tested if sellers are able to push the price below the $4.0 support level.
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
A negative tilt is visible on Uniswap’s daily chart. Presently, sellers are currently preventing a rise above the $4.4 level. Supportive pressure was put on the cryptocurrency during the preceding month. Price must go up in order to cross the $4.4 threshold. The bullish frenzy waned when the $6.6 high was tested. On October 2, a huge bearish daily candle developed, and the price began to decline. The slide shattered previous support levels of $4.4. After breaching the $4.4 support level, the price is now pressing hard on the $4.0 support level.
Trading on Uniswap below the two EMAs points to a negative trend. The $4.7 and $5.0 resistance levels might be broken if there is enough buying pressure to go past the $4.4 resistance level. The price levels of $3.5 and $3.1 will be tested if sellers are able to push the price below the $4.0 support level. At level 37, the period 14 relative strength indicator makes a downward arch, signaling a sell.
UNI/USD Medium-term Trend: Bearish
The 4-hour Uniswap chart is moving bearishly. The cryptocurrency overcame many obstacles, including those at price points of $6.1 and $6.4. The price began to fall when the sellers held the $6.6 barrier level. Uniswap has dropped to $4.0 as a result of increased vendor pressure. It retested the $4.7 zone after pulling back. The Uniswap market is now dominated by sellers.
Sellers are currently exerting price pressure. A sell signal is being given by the relative strength index period 14 downward trend at level 38.
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