Uniswap Price Analysis – July 01
Ability to break up $21 price level by the bulls will push up Uniswap price to $21, $27 and $34 price levels. In case the bears were able to defend the $21 level, and break down the support level of $15, the price may decrease to the support level at $12 and $9 levels.
UNI/USD Market
Key Levels:
Resistance levels: $21, $27, $34
Support levels: $15 $12, $9
UNI/USD Long-term Trend: Bearish
Uniswap is bearish on the long-term outlook. There was no significant movement in the Uniswap market last week. This scenario may be due to low bullish and bearish momentum. Attempts made by the bears to break down the $15 level was not successful. Likewise, bulls tried to push up the price above the $21 level but the mentioned level holds. The price is currently moving up and down within the $21 and $15 price levels.
Uniswap continue its trading below the 9 periods EMA and 21 periods EMA at close contact which indicates a decrease in bearish momentum. The fast moving average (9 periods EMA) is bending towards the slow moving average (21 periods EMA). Ability to break up $21 price level by the bulls will push up Uniswap price to $21, $27 and $34 price levels. In case the bears were able to defend the $21 level, and break down the support level of $15, the price may decrease to the support level at $12 and $9 levels. However, the Relative Strength Index is bending down at 40 levels which indicate a sell signal.
UNI/USD Medium-term Trend: Ranging
On the 4-hour chart, Uniswap is ranging. The bears’ momentum become weak when the price reached the support level at $15. The level could not be broken downside and the resistance level of $21 seems stronger than the bullish momentum. Uniswap is experiencing a consolidation movement at moment.
Uniswap is hovering over the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 50 levels bending down to indicate sell signal.
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