Uniswap (UNIUSD): $6 and $9 Levels Hold, Ranging Movement in Progress

Uniswap Price Analysis – March 17

When the bulls’ pressure increase to break up the resistance level of $9, the price may increase to the resistance level at $13 and $19 levels. In case the bears defend the resistance level of $9, Uniswap price may decrease to $6, $4 and $3 price levels

UNI/USD Market

Key Levels:

Resistance levels: $9, $13, $19

Support levels: $6, $4 $3

UNI/USD Long-term Trend: Ranging

Uniswap is ranging on the long-term outlook. There was no much price movement in the Uniswap market last week. The bearish momentum is becoming weak when it reached the support level of $6. The mentioned level was reached on February 24. The daily candle became a pin bar indicating that bulls are ready to influx the market. The bullish pressure is weak and the price is consolidating within $9 and $6 levels.

Uniswap is trading below and over the 9 periods EMA and 21 periods EMA which indicates a low bullish and bearish momentum. The fast moving average (9 periods EMA) is below the slow moving average (21 periods EMA). When the bulls’ pressure increase to break up the resistance level of $9, the price may increase to the resistance level at $13 and $19 levels. In case the bears defend the resistance level of $9, Uniswap price may decrease to $6, $4 and $3 price levels. The Relative Strength Index is bending up at 48 levels which indicate a buy signal.

UNI/USD Medium-term Trend: Ranging

On the 4-hour chart, Uniswap is ranging. The bears’ momentum and the bulls’ momentum seems to be equal as the price is consolidating within $6 support level and the resistance level of $9. The mentioned support level holds and the resistance level of $9 is equally withstanding the bulls. This may continue until there is a breakout.

Uniswap is hovering over the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 64 levels bending up to indicate buy signal.

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