Uniswap (UNIUSD) Price Rises to $16.3

Further price increase envisaged

Uniswap Price Analysis – 05 December

If buying pressure returns around $16.3, it may break over resistance levels and hit the $17.9 to $19.7 levels. Sellers might attempt to reevaluate the $12.0 and $10.25 levels if they can break through the $13.8 support level.

UNI/USD Market

Key Levels:

Resistance levels: $16.3, $17.9, $19.7

Support levels: $13.8, $12.0, $10.25

UNI/USD Long-term Trend: Bullish

The Uniswap daily chart unquestionably shows a bullish reversal indicator. On September 5, it was anticipated that the currency would test the $6.5 support level before rising to the $9.5 resistance level. When the price dropped below $6.5, the bears held onto their market. The price of Uniswap has increased to $10.2 in the last two weeks. It then began to rise and tested the resistance level of $12.0. After withdrawing, it is now being reexamined in the $6.2 zone.
Last week, buyers followed the previous advise, and the price tested at $16.3.

An upward trend is shown by Uniswap’s trading above the Hull Suite indicator for cryptocurrency signals. If buying pressure returns around $16.3, it may break over resistance levels and hit the $17.9 to $19.7 levels. Sellers might attempt to reevaluate the $12.0 and $10.25 levels if they can break through the $13.8 support level.

UNI/USD Medium-term Trend: Bullish

Uniswap’s 4-hour chart indicates an increasing trend. As soon as the purchasers held the $10.2 barrier level, price increases started. After the major job was finished a few days ago, prices reached $12.0. When buyers increased the pressure on their market, this is what transpired. Prices surged to the predetermined level as buyers grew more nervous; the Uniswap also increased in lockstep with the bulls to the $13.8 level. After its retreatment to $13.8, it bounce up and test $16.3 level.

At the moment, the price is higher than the dynamic support level. At Uniswap, the market is unpredictable. A positive QQE MOD signal histogram indicates a buying position.

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