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Uniswap is flashing buy signal, analyst points out
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THE Uniswap (UNI) may be about to start a recoveryaccording to recent analyzes based on the indicator TD Sequential.
This instrument, widely used by traders to identify trend reversals, showed a buy signal on the 4-hour chart, indicating that the recent downtrend may be nearing its end.
According to the analyst Ali Martinez, the TD Sequential buy signal gains strength if UNI token maintains critical support at $13.20 in the next sessions.
This level is being closely watched by market participants as a key point for possible reversal. If buyers can defend this zone, Uniswap could mount a inflection point for an uptrend.
Uniswap: technical analysis
In recent days, the price of Uniswap has fallen by more than 10% in 24 hourscurrently negotiating the $13.01. This is a sharp drop from recent peaks above $15.
Despite the devaluation, trading volume increased by 2.31%, totaling US$372.49 million. This increase suggests a growing interest in UNIeven amid market volatility.
Technically, Uniswap is trading at a descending channelwith increasingly lower minimums and maximums on the one-hour chart. The support in $13.20 is the critical point for buyers. If it does not hold, the price could fall back to US$12.50testing levels seen in December.
On the other hand, if the support is defended, Uniswap faces resistance in US$13.70 and $14.10being able to return to the area of $15. THE ADX (Average Directional Index)which measures the strength of the trend, is in 36.54indicating a strong downtrend but also suggesting that a reversal may be near.
Uniswap is flashing buy signal, analyst points out
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Uniswap is flashing buy signal, analyst points out
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Uniswap is flashing buy signal, analyst points out
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Uniswap is flashing buy signal, analyst points out
