Uniswap (UNIUSD) Price Awaiting a Bullish Push at $4.0 Level

Buyers may dominate Uniswap market soon

Uniswap Price Analysis – 28 September

The $4.7 and $4.9 resistance levels may be broken if there is adequate buying pressure to break past the $4.5 resistance level. The price levels of $3.5 and $3.1 will be tested if sellers are able to push the price below the $4.0 support level. At level 43, the period 14 relative strength indicator arcs upward, signaling a buy.

UNI/USD Market

Key Levels:

Resistance levels: $4.5, $4.7, $4.9

Support levels: $4.0, $3.5, $3.1

UNI/USD Long-term Trend: Bearish

Uniswap shows a bearish tilt on the daily chart. Currently, buyers are trying to stop a further decline near the $4.0 level. The cryptocurrency saw supportive pressure in the previous month. To overcome the $6.4 barrier level, the price must rise. The bullish enthusiasm waned when the $6.6 high was challenged. On August 2, a large bearish daily candle appeared, and the price declined. The decline broke previous support levels of $4.9, $4.7, and $4.5. The price has already crossed the $4.5 support level and is currently swinging between $4.5 and $4.0 levels.

A positive trend on Uniswap is indicated by trading above the two EMAs. The $4.7 and $4.9 resistance levels may be broken if there is adequate buying pressure to break past the $4.5 resistance level. The price levels of $3.5 and $3.1 will be tested if sellers are able to push the price below the $4.0 support level. At level 43, the period 14 relative strength indicator arcs upward, signaling a buy.

UNI/USD Medium-term Trend: Ranging

Uniswap 4-hour chart is on a ranging movement. Before hitting resistance at a price of $6.6, the cryptocurrency overcame numerous obstacles, including those at $6.1 and $6.4 in the price. Uniswap began to fall when the sellers held the $6.6 barrier level. The cost has dropped to $4.0 as a result of increased vendor pressure. Range movement was triggered by the present conflict between the bulls and bears.

Buyers are currently exerting price pressure. The relative strength index period 14 is at 51 level pointing up, indicating a buy.

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