Uniswap (UNIUSD) Price: Bulls Are Attempting to Combat Bears at $4.5 Level

Uniswap may experience a bullish reversal

Uniswap Price Analysis – 31 August

The $4.9 and $5.4 resistance levels may be broken if there is enough buying pressure to go beyond the $4.7 resistance level. Uniswap levels of $3.9 and $3.5 will be put to the test if sellers are able to push the price below the $4.5 support level..

UNI/USD Market

Key Levels:

Resistance levels: $4.7, $4.9, $5.4

Support levels: $4.5, $3.9, $3.5

UNI/USD Long-term Trend: Bearish

Uniswap is moving in a bearish way on the daily Chart. Positive pressure was applied to the cryptocurrency during the past three weeks. The price had to move up to $6.4 resistance level. The bullish push subsided when the $6.6 high was challenged. On August 2, a sizable bearish daily candle developed, and the price began to decline. The decline broke through the prior support levels of $5.7, $5.4, and $4.7. Currently, pressure is building on the $4.5 support level.

On Uniswap, trading below the two EMAs denotes a negative trend. The $4.9 and $5.4 resistance levels may be broken if there is enough buying pressure to go beyond the $4.7 resistance level. The price levels of $3.9 and $3.5 will be put to the test if sellers are able to push the price below the $4.5 support level. At level 33, the period 14 relative strength index curves downward, signaling a sell.

UNI/USD Medium-term Trend: Bearish

Uniswap 4-hour chart indicates a bearish bias. The Crypto overcame many obstacles, such as those at $6.1 and $6.4, the cryptocurrency ran into resistance at a price of $6.6. Uniswap began to fall when the sellers held the $6.6 barrier level. The price has dropped to $4.7 because of increased pressure from the vendors. Bulls are currently attempting to combat bears and this led to ranging movement.

Price pressure is currently being applied by sellers. The exponential 9- and 21-period moving averages of Uniswap price are currently below them, signaling a sell.

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