Uniswap Price Analysis – November 11
In case the bulls gain more pressure to break up the resistance level of $27, the price may increase to test the resistance level at $30, it may equally extend to $37 level. Should the bears increase pressure to penetrate the support level of $24 downside, Uniswap price may fall to $17 and $14 price level.
UNI/USD Market
Key Levels:
Resistance levels: $27, $30, $37
Support levels: $24, $21, $17
UNI/USD Long-term Trend: Ranging
Uniswap is on the ranging mode on the long-term outlook. Buyers continue to push up the Uniswap to test the resistance level of $27 daily but the resistance level of $27 is holding the price. That means buyers’ pressure is weak and could not break up $27 price level. The bears’ momentum seems low and could not break down the support level of $21. The price maintain its ranging movement within $27 and $24 price levels.
The trading around and over the two EMAs by Uniswap continues which indicate a ranging momentum, also the fast moving average (9 periods EMA) remains interlocked with the slow moving average (21 periods EMA). In case the bulls gain more pressure to break up the resistance level of $27, the price may increase to test the resistance level at $30, it may equally extend to $37 level. Should the bears increase pressure to penetrate the support level of $24 downside, Uniswap price may fall to $17 and $14 price level. The Relative Strength Index is at 50 levels displaying no specific trade direction.
UNI/USD Medium-term Trend: Ranging
Uniswap is ranging on the 4-hour chart. The bears’ momentum remains as the support level of $24 holds the price. The sellers’ pressure is not strong enough to break down the just mentioned level. At the same time the resistance level of $27 seems stronger than the bullish momentum. Uniswap continues a consolidation movement until there is a breakout.
Uniswap is hovering over the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is below 50 levels displaying no specific direction.
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