Cryptocurrency

Uniswap

Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/argentinas-central-bank-takes-steps-to-halt-crypto-trading/" data-wpel-link="internal">Argentina’s Central Bank Takes Steps to Halt Crypto Trading</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/arjantin-merkez-bankasi-kripto-ticaretini-engellemek-icin-adim-atti" data-wpel-link="internal">Cryptocurrency</a></strong> market fluctuations in recent days have adversely affected the price of Uniswap (UNI). The UNI price experienced a pullback of up to 40% following a warning from the <a href="https://en.coin-turk.com/crypto-market-surges-with-intense-buying-in-veteran-altcoins/" data-wpel-link="internal">SEC</a>. Now, there are serious concerns about the price’s ability to recover. So, what levels should investors monitor at this point?</p> 
<h2 style="text-align: justify" id="uni-price-analysis">UNI Price Analysis</h2> 
<p style="text-align: justify"><strong>UNI/USD</strong> pair’s 4-hour chart shows that the price has started trading below the $10.00 level. In fact, the price has retreated to as low as $9.50 and is trading below the 100 simple moving average. This indicates that a downward trend is prevailing in the market.</p> 
<p style="text-align: justify">A significant indicator is the major drop following the SEC news. UNI faced selling pressure below the $13 pivot level and the price experienced a decline of over 40%. Influenced by the pressure on <a href="https://en.coin-turk.com/bitcoin-faces-market-correction-and-price-fluctuations/" data-wpel-link="internal">Bitcoin</a> and <a href="https://en.coin-turk.com/ethereum-price-dynamics-a-caution-for-impatient-investors/" data-wpel-link="internal">Ethereum</a>, the UNI price fell below the $10 support level.</p> 
<h2 style="text-align: justify" id="critical-resistance-levels">Critical Resistance Levels</h2> 
<p style="text-align: justify">Currently, the UNI price is trading well below the $10 level. However, there is an immediate resistance near $9.45. The next significant resistance is close to the $10.25 level or the trend line. If the price overcomes this resistance, further gains could be possible in the short term.</p> 
<p style="text-align: justify"><strong>UNI</strong> price movements to watch for in the future include a level around $11.80. Surpassing this level could lead bulls to aim for testing the $12 level. Further gains could pave the way for UNI to move towards the $13.50 level.</p> 
<h2 style="text-align: justify" id="is-more-loss-on-the-horizon-for-uniswap">Is More Loss on the Horizon for Uniswap?</h2> 
<p style="text-align: justify">If the UNI price cannot rise above $9.45 or $9.50, further losses may occur. Currently, UNI’s first major support level is around $8.70. If this support is broken, the next main support is close to $8.50. However, an important point to note: if support levels drop below $8.50, the doors could open for a push towards $7.65.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-339681 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/uniswap-coin-turk-com-.png" alt="" width="1835" height="799"></p> 
<p style="text-align: justify">Looking at technical indicators, the 4-hour MACD for the <strong>UNI/USD</strong> pair is gaining momentum in the bearish zone. This could indicate an increase in selling pressure. Additionally, the 4-hour RSI (Relative Strength Index) for UNI/USD is also below the 25 level, which suggests the selling trend is strengthening.</p> 
<p style="text-align: justify">Key support levels to watch are $8.70, $8.50, and $7.65. However, resistance levels should not be forgotten. In the event of a potential recovery in UNI price, the main resistance levels are $9.45, $10.00, and $10.25.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/argentinas-central-bank-takes-steps-to-halt-crypto-trading/" data-wpel-link="internal">Argentina’s Central Bank Takes Steps to Halt Crypto Trading</a></h5>

Argentina’s Central Bank Takes Steps to Halt Crypto Trading

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