Cryptocurrency price update: UNISWAP PRICE PREDICTION

The UNI/USD value has fallen below $8

due to a negative trend, according to Uniswap price analysis. 

When the market's breakthrough to the upside ran into resistance at $9.10, the market reversed course and began to fall. The $7.91 level, a crucial support level that was breached today, is where the market is currently trading. There is a probability that the market may find support and rise once again if it can maintain its position above the $9.10 barrier. However, the market is expected to go in the direction of the $7 level if it breaks below the $8 level. 

As selling pressure increases, the UNI/USD pair's market as a whole is declining. As the digital asset dropped by about 5.30 percent in the previous day, the UNI/USD pair is displaying a strong bearish momentum. The pair had previously reached a high of $8.43, but the bulls were unable to maintain the advance, and the prices fell back below the crucial support level of $8. The digital asset's market cap is currently $3,614,315,447, placing it at position 25 in the entire market, and the trading volume over the previous 5 hours was $238,818,418.

The coin is clearly in a downtrend as seen by lower lows and lower highs on the daily chart for Uniswap price research. For some time, the prices have been stuck between $7.80 and $8.60, but recently, a bearish breakout has caused the prices to drop all the way to $8.

On the daily chart, the DOJI pattern on yesterday as well as uniswap is trading in channel line and selling pressure seen from top of channel line as psychosocial level $10. As the selling pressure continues, it could touch the lower channel line near $7.00.

KEY LEVELS :

RESISTANCE LEVEL : $8.60-$9.40

SUPPORT LEVEL : $7.20-$6.30