Uniswap may experience a bullish reversal
Uniswap Price Analysis – 31 August
The $4.9 and $5.4 resistance levels may be broken if there is enough buying pressure to go beyond the $4.7 resistance level. Uniswap levels of $3.9 and $3.5 will be put to the test if sellers are able to push the price below the $4.5 support level..
UNI/USD Market
Key Levels:
Resistance levels: $4.7, $4.9, $5.4
Support levels: $4.5, $3.9, $3.5
UNI/USD Long-term Trend: Bearish
Uniswap is moving in a bearish way on the daily Chart. Positive pressure was applied to the cryptocurrency during the past three weeks. The price had to move up to $6.4 resistance level. The bullish push subsided when the $6.6 high was challenged. On August 2, a sizable bearish daily candle developed, and the price began to decline. The decline broke through the prior support levels of $5.7, $5.4, and $4.7. Currently, pressure is building on the $4.5 support level.
On Uniswap, trading below the two EMAs denotes a negative trend. The $4.9 and $5.4 resistance levels may be broken if there is enough buying pressure to go beyond the $4.7 resistance level. The price levels of $3.9 and $3.5 will be put to the test if sellers are able to push the price below the $4.5 support level. At level 33, the period 14 relative strength index curves downward, signaling a sell.
UNI/USD Medium-term Trend: Bearish
Uniswap 4-hour chart indicates a bearish bias. The Crypto overcame many obstacles, such as those at $6.1 and $6.4, the cryptocurrency ran into resistance at a price of $6.6. Uniswap began to fall when the sellers held the $6.6 barrier level. The price has dropped to $4.7 because of increased pressure from the vendors. Bulls are currently attempting to combat bears and this led to ranging movement.
Price pressure is currently being applied by sellers. The exponential 9- and 21-period moving averages of Uniswap price are currently below them, signaling a sell.
You can purchase Lucky Block – Guide, Tips & Insights | Learn 2 Trade here Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
