Uniswap (UNIUSD) Market: Bearish Momentum Is Gradually Increasing

 Low volatility in Uniswap market

Uniswap Price Analysis – 14 December

If the purchasing pressure surpasses the $6.5 resistance level, the resistance levels at $6.8 and $7.2 may be destroyed. The price levels of $5.4 and $5.1 will be tested if sellers are successful in pushing the price below the $5.8 support level.

UNI/USD Market

Key Levels:

Resistance levels: $6.5, $6.8, $7.2

Support levels: $5.8, $5.4, $5.1

UNI/USD Long-term Trend: Bullish

The daily chart of Uniswap clearly shows a bullish trend. Customers pushed the market northward. Before the incline last week, the previous resistance level of $6.5 was destroyed. Over the past two weeks, bullish pressure has been applied to the cryptocurrency. The price ran into resistance at $6.8 level. The dismal exhilaration faded when the $6.8 high was questioned. On November 24, a sizable bearish daily candle appeared, and the price began to fall, retesting $5.8. The bulls gained traction and the market started to range between the $6.5 and $5.8 levels.

The way Uniswap is trading about the two EMAs points to a bullish trend. If the purchasing pressure surpasses the $6.5 resistance level, the resistance levels at $6.8 and $7.2 may be destroyed. The price levels of $5.4 and $5.1 will be tested if sellers are successful in pushing the price below the $5.8 support level. At level 55, the period 14 relative strength indicator creates an upward arch, signifying a buy.

 

UNI/USD Medium-term Trend: Ranging

Uniswap’s 4-hour chart displays a trend that oscillates. The price began to drop as soon as the suppliers kept the barrier level at $6.8. The low of $6.1 was broken lower on November 29 after multiple projects, some with price values of $6.1, were completed. Increased pressure from sellers led to this. As momentum increases, the previously established level is shattered, exposing Uniswap to the $5.8 level. The Uniswap market is presently fluctuating between the $6.5 and $5.8 levels.

Sellers and buyers are currently in equilibrium momentum. The negative trend of the relative strength index period 14 at level 49 indicates a sell signal.

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