Uniswap (UNIUSD) Price: Sellers Exert More Pressure

Uniswap under bears’ pressure

Uniswap Price Analysis – 01 August

Selling pressure may breach both the $6.5 and $5.8 support levels if it falls below $6.8. Buyers may want to reevaluate the $7.9 and $8.8 levels if they break above the $7.2 resistance level.

UNI/USD Market

Key Levels:

Resistance levels: $7.2, $7.9, 8.8

Support levels: $6.8, $6.5, $5.8,

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 cryptocurrency has decreased over the last two weeks, coming down to $7.2. Following that, it began to fall and veer, testing the $6.8 support level. The vendors followed the previous directive. The market may continue to retest the $6.5 support level.

A downward trend is shown by Uniswap’s trading below the Hull Suite indicator for cryptocurrency signals. Selling pressure may breach both the $6.5 and $5.8 support levels if it falls below $6.8. Buyers may want to reevaluate the $7.9 and $8.8 levels if they break above the $7.2 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. As sellers grew agitated around the $6.8 support level and bears held onto the previously recommended level, prices declined. As it lost momentum, the Uniswap started to decrease, but it has since recovered and is currently declining; this could point to 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 crypto signals indicator histogram suggests a selling position.

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