Uniswap (UNIUSD) Price Hits Barrier at $6.0 Resistance Level

Uniswap Price Analysis – June 30

An increase in the bulls’ momentum may break up the resistance level of $6.0 and this may increase the price to $7.9 and $9.7 resistance levels. In case the bears defend the resistance level of $6.0, Uniswap price may decrease to $3.4, $2.8 and $2.1 price levels.

UNI/USD Market

Key Levels:

Resistance levels: $6.0, $7.9, $9.7

Support levels: $3.4, $2.8, $2.1

UNI/USD Long-term Trend: Bullish

Uniswap is bullish on the long-term outlook. The price declination of UNISWAP was prevented when it reaches the support level of $3.4 on 12 May. A pin bar candle pattern emerged the following day, which is an indication that bulls are ready to push up the price. The price increases and tested the resistance level of $6.0. It could not penetrate the mentioned level and it pulled back to retest the previous low of $3.4 second time. I increases slowly towards the resistance level of $6.0.

Uniswap has penetrated the two EMAs upside, trading above it is an indication of bullish momentum. Also the fast moving average (9 periods EMA) has crossed the slow moving average (21 periods EMA) upside. An increase in the bulls’ momentum may break up the resistance level of $6.0 and this may increase the price to $7.9 and $9.7 resistance levels. In case the bears defend the resistance level of $6.0, Uniswap price may decrease to $3.4, $2.8 and $2.1 price levels. The Relative Strength Index is bending up at 51 levels indicating buy.

UNI/USD Medium-term Trend: Bullish

On the 4-hour chart, Uniswap is bullish. The price action on 4-hour chart has formed a pattern called double bottom last two weeks. The price increased to test the resistance level of $6.0 after broken $5.0 upside. The price is currently pulling back at the resistance level of $6.0.

Uniswap is trading slightly below the 9 periods EMA and 21 periods EMA as a pullback. The relative strength index period 14 is at 44 levels bending down to indicate sell signal.

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