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.
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.
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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