Buyers’ momentum increases in Uniswap market
Uniswap Price Analysis – 15 June
The $4.7 and $4.9 resistance levels may be breached if there is enough buying pressure to move past the $4.5 resistance level. The price levels of $3.5 and $3.0 will be tested if sellers are able to push prices below the $3.9 support level. A buy signal is immediately discernible when the period 14 relative strength index curve bends up at level 38.
UNI/USD Market
Key Levels:
Resistance levels: $4.5, $4.7, $4.9
Support levels: $3.9, $3.5, $3.0
UNI/USD Long-term Trend: Bearish
Uniswap is moving in a bearish direction in the daily view. There is already a declining channel seen on the daily chart. At the $6.6 resistance level, the rising momentum was reversed. Sellers dominated the Uniswap market for more than a month. The sellers upped their pressure during the preceding three weeks and the price dropped below the $4.9 and $5.1 levels. The price has now passed the $4.7 threshold after being below the previous level for the preceding week. The price tested $3.5 last week and it is currently pulling back.
Uniswap is traversing the two EMAs. The $4.7 and $4.9 resistance levels may be breached if there is enough buying pressure to move past the $4.5 resistance level. The price levels of $3.5 and $3.0 will be tested if sellers are able to push prices below the $3.9 support level. A buy signal is immediately discernible when the period 14 relative strength index curve bends up at level 38.
UNI/USD Medium-term Trend: Bullish
Uniswap’s 4-hour chart indicates a bullish bias. The low $3.5 support level was tested on 10 June. The Bulls defended the just-mentioned level and bounced up. The resistance level of $3.9 was broken up and tested $4.5 resistance level where it is currently consolidating. The price of the cryptocurrency increases as more buyers entered the market. Currently, the price is trying to break up the $4.5 level.
Presently, buyers are exerting pressure on the price. Uniswap is currently trading just above both the 9-period and 21-period exponential moving averages.
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