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These DeFi Coins Have Retraced On their charts, here’s What Comes Next

Uniswap had seen bullish price action in the month of October which had then extended to even the mid of November. Ever since that, the coin has retraced and formed a bearish price pattern. At the current price level, Uniswap has been trading at a multi-month low price level. At the time of writing the coin was available for $14.47  and had registered a 7% fall over the last 24 hours.

UNI/USD Four-Hour Chart 

Although Uniswap had attempted to breach the bearish price movement, the coin encountered strong resistance at the 50% Fibonacci Level.

After being rejected at that level, the bulls had completely taken over the market. The immediate resistance mark stood at $18.82 and the local support rested at $14.39.

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 25.05.2022

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