Uniswap continues a bullish trend at $5.7 resistance level
Uniswap Price Analysis – 10 August
The $6.6 and $7.2 resistance levels could be broken if there is adequate buying pressure to move past the $6.4 resistance level. The price levels of $5.7 and $5.4 will be tested if sellers are able to push the price below the $6.1 support level. At level 56, the period 14 relative strength index curves higher, signaling a buy.
UNI/USD Market
Key Levels:
Resistance levels: $6.4, $6.6, $7.2
Support levels: $6.1, $5.7, $5.4
UNI/USD Long-term Trend: Bullish
Uniswap is moving in a bullish way on the daily Chart. The price is currently above $6.1 barrier level thanks to the positive trend that started on June 22. The price increased as the bulls clung to the previous level. The bulls’ pressure forced the old resistance level at $5.7 to be broken. As the positive momentum grew, price passed the $5.7 resistance level and then break up the $6.1 barrier level. Price backed off and tried again to reach the $6.4 level. The cryptocurrency is currently retreating at a price of $6.4.
Trading above the two EMAs on Uniswap suggests a price inclination. The $6.6 and $7.2 resistance levels could be broken if there is adequate buying pressure to move past the $6.4 resistance level. The price levels of $5.7 and $5.4 will be tested if sellers are able to push the price below the $6.1 support level. At level 56, the period 14 relative strength index curves higher, signaling a buy.
UNI/USD Medium-term Trend: Bullish
Uniswap 4-hour chart indicates a bullish bias. The crypto found support at $5,4 level after it breached several barrier levels such as $6.1 and $5.7. The buyers are defending the support level of $5.4 and the price pulled back. There is an increase in the buyers’ pressure and the price is increasing at the moment.
buyers are currently exerting price pressure. A little bit above the exponential 9- and 21-period moving averages, Uniswap is now trading.
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