Uniswap (UNIUSD) Price Finds Support at $22, Targeting $31

16 September 2021 | Updated: 16 September 2021

Uniswap Price Analysis – September 16

The price may reach the resistance level at $31, if it holds not, the price may increase to $34 and $39 price level. Should the resistance level at $31 hold, price may bounce off the level and face the support levels at $44, $15, and $39.

UNI/USD Market

Key Levels:

Resistance levels: $31, $34, $39

Support levels: $22, $15, $12

UNI/USD Long-term Trend: Bullish

Uniswap is bullish on the long-term outlook. The bearish momentum that started on September 02 has been interrupted by the bulls on September 12 when it reaches the support level at $22. The coin consolidates for a week. A strong bullish daily candle emerges which propel the price above the dynamic resistance level. The price is heading towards the resistance level of $31.

UNIUSD Daily chart, September 16

Uniswap is trading above the 9 periods EMA and 21 periods EMA which is an indication of bullish momentum. The fast moving average (9 periods EMA) is crossing the slow moving average (21 periods EMA) upside as a sign of bullish trend. The price may reach the resistance level at $31, if it holds not, the price may increase to $34 and $39 price level. Should the resistance level at $31 hold, price may bounce off the level and face the support levels at $44, $15, and $39.

UNI/USD Medium-term Trend: Bearish

Uniswap is bullish on the 4-hour chart. The support level at $22 holds and the price bounces off after testing it three times. Bulls gained more momentum and pushes the coin towards north side, breaking up the dynamic resistance levels. The price is currently targeting the resistance level of $31.

Uniswap is trading above the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 70 levels bending up to indicate buy signal.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.