Uniswap (UNIUSD) Price: $4.5 Level May be Reached Provided $6.0 Does Not Hold

Updated:

Uniswap Price Analysis – September 08

Ability to break down $6.0 price level by the bears will push Uniswap price to $4.5 and $3.4 price levels. In case the bulls were able to exert pressure to break up the resistance level of $7.9, the price may increase to the resistance level at $9.7 and $12.4 levels. However, the Relative Strength Index is bending down at 39 levels which indicate a sell signal.

UNI/USD Market

Key Levels:

Resistance levels: $7.9, $9.7, $12.4

Support levels: $6.0 $4.5, $3.4

UNI/USD Long-term Trend: Bearish

Uniswap is bearish on the long-term outlook. Uniswap has been under the control of sellers for more than two weeks. Therefore, bearish momentum continues in the Uniswap market. The support level of $6.0 is currently holding the price, The support level of $6.0 is tested twice. The price is trying to break down the just mentioned level but buyers are opposing the bearish movement. The bears’ pressure is trying to push the price below the support level of $6.0.

The trading of Uniswap continues below the 9 periods EMA and 21 periods EMA which indicates an increase in bearish momentum. The slow moving average (21 periods EMA) is above the fast moving average (9 periods EMA). Ability to break down $6.0 price level by the bears will push Uniswap price to $4.5 and $3.4 price levels. In case the bulls were able to exert pressure to break up the resistance level of $7.9, the price may increase to the resistance level at $9.7 and $12.4 levels. However, the Relative Strength Index is bending down at 39 levels which indicate a sell signal.

UNI/USD Medium-term Trend: Bearish

On the 4-hour chart, Uniswap is bearish. The bears is losing momentum at the support level of $6.0 and the bearish movement is decreasing. At the same time, the bulls’ momentum is weak and unable to increase above $7.9. It is making a ranging movement around $6.0 level at the moment.

Uniswap is trading around the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 45 levels bending up to indicate buy signal.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.