Uniswap (UNIUSD) Price: Bearish Pressure May Increase and $5.7 Level May Be Breached
Login

Uniswap (UNIUSD) Price: Bearish Pressure May Increase and $5.7 Level May Be Breached

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Sellers’ momentum may increase in Uniswap market

Uniswap Price Analysis – 20 April

The $6.6 and $7.2 levels may also be broken if there is adequate buying pressure and the $6.2 resistance level is broken. If sellers are able to effectively breach the $5.7 support level, the price levels of $5.1 and $4.9 will be put to the test.

UNI/USD Market

Key Levels:

Resistance levels: $6.4, $6.6, $7.2

Support levels: $5.7, $5.1, $4.9

UNI/USD Long-term Trend: Ranging

Uniswap is on the ranging movement in the daily outlook. The $7.2 resistance level was too strong for the bullish momentum to overcome. For more than a month, sellers have commanded the Uniswap market. After testing the $5.1 support level on March 11, the price shot up to retest the $6.6 resistance level. Considering that there were more sellers, the price was falling toward the $6.2 support level. Over the past two weeks, as the sellers exerted further pressure on the price, it breached the $6.4 ceiling and challenged $5.7. The price has been ranging between $6.4 and $5.7 levels over the past week.

The currency is bouncing between the two dynamic resistance levels in the Uniswap market, and a slight bullish trend is plainly discernible. The $6.6 and $7.2 levels may also be broken if there is adequate buying pressure and the $6.2 resistance level is broken. If sellers are able to effectively breach the $5.7 support level, the price levels of $5.1 and $4.9 will be put to the test. Relative Strength Index period 14 bending down at 46 levels indicates bearish movement, which might be an downturn.

UNI/USD Medium-term Trend: Ranging

 

Uniswap’s 4-hour chart indicates a ranging bias. The euphoria of cryptocurrency buyers began to wane a few weeks ago as the price approached $7.2. The Cryptos withdrew. The price decreased as new vendors entered the market. The price drops through the $6.4 support level and drops all the way to $5.7. At this level, there is a conflict between buyers and sellers.

sellers’ pressure is becoming strong and the price may eventually break down $5.7 level. Uniswap is also trading below the 9- and 21-period exponential moving averages. A buy is indicated by the 14-period relative strength index being at 38 levels bending up.

You can purchase Lucky Block here Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News