#Uniswap Weak But Bulls Soaking In Selling Pressure
Past Performance of Uniswap
There are lower lows in the daily chart. However, what's evident is that buyers have the upper hand, rebuffing attempts to push UNI lower. As it is, the immediate support is at $5.3, flashing with March 12 lows. In the days ahead, it will be critical to observe how prices will react at the top of the current consolidation at around $6.
#Uniswap Technical Analysis
UNI prices are down 21% from February peaks but remain bullish from a top-down preview. Even so, buy trend resumption will highly depend on how bulls will flow back and build from yesterday's gains. Already, the March 28 bar is bullish though trading volumes are comparatively low. Ideally, a high volume break above $6 may be the base for the next leg-up that may see UNI race to March 2023 highs at $6.6. If bears flow back, any dip below $5.3 with equally high volumes would confirm sellers of late February. In that case, UNI may drop to $5, retesting critical support levels of H2 2022 and Q1 2023.
What to Expect From #UNI?
The token is technically bullish but tethered to $5, a psychological support level. If there are gains above $6 as confirmation of March 12 gains, UNI may surge in a resumption of the December to February trend.
Resistance level to watch out for: $6.6
Support level to watch out for: $5.3
Disclaimer: Opinions expressed are not investment advice. Do your research.
There are lower lows in the daily chart. However, what's evident is that buyers have the upper hand, rebuffing attempts to push UNI lower. As it is, the immediate support is at $5.3, flashing with March 12 lows. In the days ahead, it will be critical to observe how prices will react at the top of the current consolidation at around $6.
#Uniswap Technical Analysis
UNI prices are down 21% from February peaks but remain bullish from a top-down preview. Even so, buy trend resumption will highly depend on how bulls will flow back and build from yesterday's gains. Already, the March 28 bar is bullish though trading volumes are comparatively low. Ideally, a high volume break above $6 may be the base for the next leg-up that may see UNI race to March 2023 highs at $6.6. If bears flow back, any dip below $5.3 with equally high volumes would confirm sellers of late February. In that case, UNI may drop to $5, retesting critical support levels of H2 2022 and Q1 2023.
What to Expect From #UNI?
The token is technically bullish but tethered to $5, a psychological support level. If there are gains above $6 as confirmation of March 12 gains, UNI may surge in a resumption of the December to February trend.
Resistance level to watch out for: $6.6
Support level to watch out for: $5.3
Disclaimer: Opinions expressed are not investment advice. Do your research.
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