Buyers’ momentum may increase in Uniswap market
Uniswap Price Analysis – 28 April
In case there is enough buying pressure and the $5.7 resistance level is breached, the $6.4 and $6.6 levels might also be broken. Price levels of $4.9 and $4.5 will be put to the test if sellers are successful in breaching the $5.1 support level.
UNI/USD Market
Key Levels:
Resistance levels: $5.7, $6.4, $6.6
Support levels: $5.1, $4.9, $4.5
UNI/USD Long-term Trend: Bearish
Uniswap is on the bearish movement in the daily outlook. The positive momentum was unable to breach the $6.6 resistance level. The Uniswap market has been dominated by sellers for more than a month. On March 11, the price jumped up to retest the $6.6 resistance level after probing the $5.1 support level. The price was decreasing toward the $6.4 support level since there were more sellers. As the sellers increased their pressure on the price over the last three weeks, it crossed the $6.4 ceiling and posed a threat to $5.7. Over the past week, the price broke down the just mentioned level and tested $5.1 level.
A minor bullish movement is clearly visible as the currency oscillates between the two dynamic resistance levels in the Uniswap market. In case there is enough buying pressure and the $5.7 resistance level is breached, the $6.4 and $6.6 levels might also be broken. Price levels of $4.9 and $4.5 will be put to the test if sellers are successful in breaching the $5.1 support level. Bullish action, which could be an upturn, is indicated by the relative strength index period 14 bending up at 41 levels.
UNI/USD Medium-term Trend: Ranging
Uniswap’s 4-hour chart indicates a ranging bias. A few weeks ago, as the price drew near $6.6, the joy of cryptocurrency buyers started to fade. The Cryptos pulled back. As more vendors entered the market, the price fell. The price falls all the way to $5.7 after passing through the $6.4 support level. The sellers were able to push the price to $5.1 support level.
There is increasing pressure from buyers, and the price may eventually increase above the $5.7 mark. Uniswap is currently trading slightly above both the exponential moving averages of 9 and 21 periods. The 14-period relative strength index bending up at 50 levels suggests a buy.
You can purchase Lucky Block here Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
