Uniswap Price Analysis – September 23
The price may continue a bullish trend if it is not resisted by the dynamic resistance levels and it will target $21, $26 and $30 resistance levels. Should the dynamic resistance levels oppose the price, bearish trend may continue towards the support levels at $17, $14 and $12.
UNI/USD Market
Key Levels:
Resistance levels: $21, $26, $30
Support levels: $17, $14, $12
UNI/USD Long-term Trend: Bearish
Uniswap is bearish on the long-term outlook. The crypto played out the way it was predicted last week; the double top chart pattern formed and the price declined to test the support level of $17. The price pulled back yesterday to retest $21 price level. Today, it seems the price may continue to increase towards the resistance level of $21.
Uniswap is trading below the 9 periods EMA and 21 periods EMA which is an indication of bearish trend. The fast moving average (9 periods EMA) remains below the slow moving average (21 periods EMA). The price may continue a bullish trend if it is not resisted by the dynamic resistance levels and it will target $21, $26 and $30 resistance levels. Should the dynamic resistance levels oppose the price, bearish trend may continue towards the support levels at $17, $14 and $12.
UNI/USD Medium-term Trend: Bullish
Uniswap is bullish on the 4-hour chart. The support level at $17 was reached by the pressure of the bears and the mentioned level holds. The price bounces off after testing it and it is gradually increasing towards the resistance level of $26. The Bulls may gain more momentum and pushes the coin towards north side.
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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