Given the prevailing daily downtrend and the bearish sentiment seen across the cryptocurrency markets today, Uniswap cryptocurrency can be expected to fall further to the next round support level 5.00 (former monthly low from November and December).

 

  • Uniswap broke support level 5.720
  • Likely to fall to round support level 5.00

Uniswap cryptocurrency recently broke the support level 5.720 (which is the lower border of the sideways price range inside which the price has been moving from the middle of December, as can be seen from the daily Uniswap chart below). The breakout of the support level 5.720 accelerated the active short-term impulse wave iii, which belongs to the intermediate impulse wave C from the start of November. The price earlier reversed down with the Shooting Star from the resistance level 6.300 (which is the upper border of the active sideways price range).

Given the prevailing daily downtrend and the bearish sentiment seen across the cryptocurrency markets today, Uniswap cryptocurrency can be expected to fall further to the next round support level 5.00 (former monthly low from November and December).

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