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

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Uniswap Price Analysis – July 07

When the bulls increase their momentum, price may break up the resistance level of $6.0 and this may increase it to $7.9 and $9.7 resistance levels. In case the bears defend the resistance level of $6.0, Uniswap price may decrease to $4.5, $3.4 and $2.1 price levels. The Relative Strength Index is bending up at 54 levels indicating buy.

UNI/USD Market

Key Levels:

Resistance levels: $6.0, $7.9, $9.7

Support levels: $4.5, $3.4, $2.1

UNI/USD Long-term Trend: Bullish

Uniswap is bullish on the long-term outlook. The Crypto found support at $3.4 level on 15 June. It was the second time of testing the mentioned level. The first test was carried out on 12 May. The price increases and test the resistance level of $6.02. It pulled back to test the broken level of $4.5. There is tendency for the price to increase further.

The fast moving average (9 periods EMA) has crossed the slow moving average (21 periods EMA) upside. Uniswap has penetrated the two EMAs upside, trading above it, which is an indication of bullish momentum. When the bulls increase their momentum, price may break up the resistance level of $6.0 and this may increase it to $7.9 and $9.7 resistance levels. In case the bears defend the resistance level of $6.0, Uniswap price may decrease to $4.5, $3.4 and $2.1 price levels. The Relative Strength Index is bending up at 54 levels indicating buy.

UNI/USD Medium-term Trend: Bullish

On the 4-hour chart, Uniswap is bullish. Two weeks ago, a double bottom chart pattern formed on 4- hour, and it triggers a bullish movement. Price increase to test the resistance level of $6.02 and it pulled back. At the moment, it is struggling to break up $6.0 level.

Uniswap is trading slightly above the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 55 levels bending down to indicate sell signal.

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