Uniswap Price Analysis – September 30
The price may penetrate the resistance level of $26 and increase towards the resistance levels of $30 and $37. Inability to penetrate the resistance level of $26 by the bulls may result to ranging market or bearish reversal towards the support levels at $21, $17 and $14.
UNI/USD Market
Key Levels:
Resistance levels: $26, $30, $37
Support levels: $21, $17, $14
UNI/USD Long-term Trend: Bullish
Uniswap is bullish on the long-term outlook. Uniswap continue to obey the command of the bulls. The bullish movement commenced on September 22 at the support level of $17. The coin played out the way it was predicted last week; the resistance level of $21 was broken upside. The price is increasing towards the resistance level of $26. The price may continue to increase as the daily bullish candle opens the Uniswap market.
Uniswap is trading above the 9 periods EMA and 21 periods EMA which is an indication of bullish movement. The fast moving average (9 periods EMA) is crossing the slow moving average (21 periods EMA). The price may penetrate the resistance level of $26 and increase towards the resistance levels of $30 and $37. Inability to penetrate the resistance level of $26 by the bulls may result to ranging market or bearish reversal towards the support levels at $21, $17 and $14.
UNI/USD Medium-term Trend: Bullish
Uniswap is bullish on the 4-hour chart. The coin tested the support level at $17 thrice; meaning that triple bottom chart pattern formed. This scenario triggered the bullish movement in the 4-hour chart pattern. $21 level has been penetrated upside and the price is heading towards the resistance level of $26.
Uniswap is trading above the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 50 levels bending up to indicate buy signal.
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