Uniswap (UNIUSD) Price: An Increase in Bears’ Pressure May Reduce Price to $6 Level

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Uniswap Price Analysis – January 27

In case the bears were able to exert pressure to break down the support level of $10, the price may decrease to the support level at $6 and $4 levels. Failure to break down $10 level by the bears, Uniswap price may increase towards $12, $14 and $16 price levels.

UNI/USD Market

Key Levels:

Resistance levels: $12, $14, $16

Support levels: $10, $6, $4

UNI/USD Long-term Trend: Bearish

Uniswap is bearish on the long-term outlook. The bears are still holding the Uniswap market though with low momentum. The bears’ pressure is trying to push the price below the support level of $10 but the mentioned level is holding the price. The bears are gathering momentum that will be enough to break down the $10 support level. The price is ranging within $12 and $6 levels.

UNIUSD Daily chart, January 27

Uniswap remains below the two EMAs, continue trading below the 9 periods EMA and 21 periods EMA which indicates a bearish momentum. The fast moving average (9 periods EMA) is below the slow moving average (21 periods EMA). In case the bears were able to exert pressure to break down the support level of $10, the price may decrease to the support level at $6 and $4 levels. Failure to break down $10 level by the bears, Uniswap price may increase towards $12, $14 and $16 price levels. However, the Relative Strength Index is bending down at 20 levels which indicate a sell signal.

UNI/USD Medium-term Trend: Ranging

On the 4-hour chart, Uniswap is ranging. The bears’ momentum is getting reduced at the support level of $10 and the bearish movement could not continue. In the same way, the bulls’ momentum is weak and could not break up the resistance level of $12. The price is ranging within $12 and $10 price level.

UNIUSD 4-hour chart, January 27

Uniswap is trading below the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 20 levels bending up to indicate buy signal which may be a pullback.

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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.