Uniswap (UNIUSD) May Hit $37 Level Provided $30 Resistance Level Does Not Hold

Uniswap Price Analysis – June 03

When the bulls’ pressure increase further to break up the resistance level of $30, the price may increase to the resistance level at $37 and $43 levels. In case the bears defend the resistance level of $30, Uniswap price may decrease to $26, $21 and $15 price levels.

UNI/USD Market

Key Levels:

Resistance levels: $30, $37, $43

Support levels: $26, $21, $15

UNI/USD Long-term Trend: Bullish

Uniswap is bullish on the long-term outlook. The price movement in the Uniswap market is slow due to low momentum. The bullish engulfing candle emerged at the support level of $15 on May 24; this scenario triggered a bullish trend. The coin increases and penetrates the dynamic resistance upside. It pulled back to retest $21 price level on May 29. At the moment, it is increasing towards $30 level. There is tendency for further increase to $37 price level.

 

Uniswap is crossing the two EMAs upside and it is trading above the 9 periods EMA which indicates an increase in the bulls’ momentum. Also, the fast moving average (9 periods EMA) is trying to cross the slow moving average (21 periods EMA) upside. When the bulls’ pressure increase further to break up the resistance level of $30, the price may increase to the resistance level at $37 and $43 levels. In case the bears defend the resistance level of $30, Uniswap price may decrease to $26, $21 and $15 price levels. The Relative Strength Index is bending up at 50 levels which indicate a buy signal.

UNI/USD Medium-term Trend: Bullish

On the 4-hour chart, Uniswap is bullish. The bears lose momentum at the support level of $15. A morning star candle pattern formed and Uniswap increases steadily to $30 level. It retraced towards $21 price level. The bulls are restoring the price to bullish trend at the moment.

Uniswap is trading above the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 60 levels bending up to indicate buy signal.

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