Uniswap price may be reduced further
Uniswap Price Analysis – 01 February
Should the buying momentum persist over $6.4, the resistance levels at $7.1 and $7.9 might potentially be destroyed. If sellers can drive the price below the $5.7 support level, the price levels of $4.9 and $3.8 will be tested.
UNI/USD Market
Key Levels:
Resistance levels: $6.4, $7.1, $7.9
Support levels: $5.7, $4.9, $3.8
UNI/USD Long-term Trend: Bearish
Uniswap’s daily chart unmistakably displays a downward trend. The cryptocurrency has experienced negative pressure over the last four weeks. The market was driven northward by customers. The prior resistance level of $6.4 was destroyed before the rally last month. The price encountered resistance at $6.4. When the $8.2 high was questioned, the depressing excitement subsided. A large bearish daily candle appeared on January 02, and the price started to drop again, touching $5.7 before dropping. There could be even more price reductions.
A downward trend is indicated by the way Uniswap is trading about the Hull Suite. Should the buying momentum persist over $6.4, the resistance levels at $7.1 and $7.9 might potentially be destroyed. If sellers can drive the price below the $5.7 support level, the price levels of $4.9 and $3.8 will be tested. A Crypto signal sell is indicated when the QQE MOD indicator is red and below zero.
UNI/USD Medium-term Trend: Bearish
The 4-hour chart of Uniswap shows bearish movement. As soon as the suppliers kept the $8.2 barrier level in place, the price started to decrease. On December 28, after several projects, some with price values of $7.1, were completed, the low of $7.1 was broken lower. This resulted from increased pressure from sellers. Tests are carried out at the $5.7 support level as momentum builds. The price is currently softly dropping as bears support the previously indicated level.
The uniswap market is not very volatile right now. The QQE MOD indicator’s negative histogram indicates a sell position.
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