Uniswap (UNIUSD) Price Rebound at $6.0 Level

Updated:

Uniswap Price Analysis – July 14

When the bulls increase their momentum, price may reach the resistance level of $7.9 and this may increase it to $9.7 and $12.4 resistance levels. In case the bears defend the resistance level of $7.9, Uniswap price may decrease to $6.0, $4.5 and $3.4 price levels. The Relative Strength Index is bending up at 60 levels indicating buy.

UNI/USD Market

Key Levels:

Resistance levels: $7.9, $9.7, $12.4

Support levels: $6.0, $4.5, $3.4

UNI/USD Long-term Trend: Bullish

Uniswap is bullish on the long-term outlook. When the Crypto found support at $3.4 level on 15 June. The price action is coming up with the formation of chart pattern called inverted head and shoulder. It is a bullish chart pattern. The price increases and test the resistance level of $6.02. It pulled back to test the broken level of $4.5. The bulls pushes the price to break up $6.0 level, the price is targeting the resistance level of $7.9.

The fast moving average (9 periods EMA) has crossed the slow moving average (21 periods EMA) upside. Uniswap is trading above the two EMAs after penetrated the two dynamic resistance level, which is an indication of bullish momentum. When the bulls increase their momentum, price may reach the resistance level of $7.9 and this may increase it to $9.7 and $12.4 resistance levels. In case the bears defend the resistance level of $7.9, Uniswap price may decrease to $6.0, $4.5 and $3.4 price levels. The Relative Strength Index is bending up at 60 levels indicating buy.

UNI/USD Medium-term Trend: Bullish

On the 4-hour chart, Uniswap is bullish. A double bottom chart pattern formed on 4- hour last two weeks has turned to an inverted head and shoulder chart pattern. It is triggering a bullish movement. Price increases and the former resistance level of $6.0 has turned to support level.  At the moment, it is exposes to resistance level of $7.9 level.

Uniswap is trading slightly above the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 61 levels bending up to indicate buy signal.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.