Buyers’ momentum may increase in Uniswap market
Uniswap Price Analysis – 25 May
Should there be sufficient buying pressure to break through the $5.1 resistance level, it is possible that the $5.7 and $6.4 resistance levels will as well. If sellers are able to drop below the $4.9 support level, Uniswap levels of $4.7 and $4.5 will be put to the test.
UNI/USD Market
Key Levels:
Resistance levels: $5.1, $5.7, $6.4
Support levels: $4.9, $4.7, $4.5
UNI/USD Long-term Trend: Bearish
In the daily view, Uniswap is moving in a bearish direction. On the daily chart, a descending channel has already developed. The upward trend was halted by the $6.6 resistance level. For more than a month, sellers have commanded the Uniswap market. Over the previous three weeks, as the sellers increased their pressure, the price fall below the $6.4 ceiling and threatened to fall as low as $5.7. For the past week, the price has been below the prior level and has penetrated the $5.1 mark. Currently, the price is facing a low of $4.9.
The two EMAs are being crossed by Uniswap. Should there be sufficient buying pressure to break through the $5.1 resistance level, it is possible that the $5.7 and $6.4 resistance levels will as well. If sellers are able to drop below the $4.9 support level, the price levels of $4.7 and $4.5 will be put to the test. When the period 14 relative strength index bends lower at level 37, a sell signal is present.
UNI/USD Medium-term Trend: Bearish
Uniswap’s 4-hour chart indicates a bearish bias. A downward channel has been formed by the price movement. The euphoria among cryptocurrency investors started to wane a few weeks ago as the price increased gradually toward $6.6. The Crypto backed out, and as more vendors entered the market, the price fell. The price falls all the way to $5.1 after breaching the $5.7 support level. At present, buyers are reacting against the decline, and the price is moving away from the $4.9 mark.
The price is currently under decreased pressure from sellers. Uniswap is currently trading slightly below both the exponential moving averages of 9 and 21 periods.
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