Uniswap (UNIUSD) Price: Bears Oppose Bears at $7.9 Resistance Level

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Uniswap Price Analysis – July 21

Price may break up the resistance level of $7.9 when the bulls increase their momentum, and this may increase it to $9.7 and $12.4 resistance levels. When the bears oppose bulls at the resistance level of $7.9, Uniswap price may decrease to $6.0, $4.5 and $3.4 price levels.

UNI/USD Market

Key Levels:

 

Resistance levels: $7.9, $9.7, $12.4

Support levels: $6.0, $4.5, $3.4

UNI/USD Long-term Trend: Bullish

Uniswap is bullish on the long-term outlook. The formation of an inverted head and shoulder chart pattern triggers a bullish movement in the Uniswap market. The bullish movement broke up the resistance level of $6.0. The price slowly move up and tested the resistance level of $7.9. It immediately pull back as an indication of weak bullish momentum.

The fast moving average (9 periods EMA is above the slow moving average (21 periods EMA). Uniswap is trading above the two EMAs after it penetrated the two dynamic resistance level, which is an indication of bullish momentum. Price may break up the resistance level of $7.9 when the bulls increase their momentum, and this may increase it to $9.7 and $12.4 resistance levels. When the bears oppose bulls at the resistance level of $7.9, Uniswap price may decrease to $6.0, $4.5 and $3.4 price levels. The Relative Strength Index is bending down at 58 levels indicating sell.

UNI/USD Medium-term Trend: Bearish

On the 4-hour chart, Uniswap is bearish. A bullish chart pattern formed called an inverted head and shoulder has moved the price to test the resistance level of $7.9. The sellers opposed the bulls at just mentioned level and it is currently declining below the dynamic resistance level.

Uniswap is trading below the 9 periods EMA and 21 periods EMA at a distance. The relative strength index period 14 is at 41 levels bending down to indicate sell signal.

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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.