Uniswap (UNIUSD) Price Is Retesting Previous Low at $7.6 Support Level

Uniswap Price Analysis – April 28

When the support level of $7.6 is broken downside, price level may decrease to $5.2 and $4.5 support levels. In case the bulls were able to defend the support level of $7.6, Uniswap may bounce up towards the resistance levels of $9.7, $12.4 and $13.8

UNI/USD Market

Key Levels:

Resistance levels: $9.7, $12.4, $13.8

Support levels: $7.6 $5.2, $4.5

UNI/USD Long-term Trend: Bearish

On the long-term outlook Uniswap is bearish. Last month, March 14 the crypto formed a double bottomed chart pattern. The buyers of Uniswap were set to push up the price. It started increasing towards the $12.4 resistance levels where it experienced a fake breakout. An evening star chart pattern emerged as a bearish movement symbol. The bears opposes the price increase and it is currently facing the support level of $7.6.

Uniswap is trading below the 9 periods EMA and 21 periods EMA which indicates an increase in bearish momentum. The fast moving average (9 periods EMA) is below the slow moving average (21 periods EMA). When the support level of $7.6 is broken downside, price level may decrease to $5.2 and $4.5 support levels. In case the bulls were able to defend the support level of $7.6, Uniswap may bounce up towards the resistance levels of $9.7, $12.4 and $13.8. The Relative Strength Index is bending down at 35 levels which indicate a sell signal.

 

UNI/USD Medium-term Trend: Bearish

On the 4-hour chart, Uniswap is bearish. The bears opposed the price increase which started few weeks ago. The bulls lose momentum at $12.4 price level and the bears took over the market. The crypto is currently decreasing towards the $7.6 price level.

Uniswap is trading below the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 40 levels bending down to indicate sell signal.

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