Uniswap (UNIUSD) Price Is Aiming at $6.2 Resistance Level

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The bulls are dominating Uniswap market

Uniswap Price Analysis – 12 January

Uniswap levels of $6.6 and $7.2 may be reached if it is possible to break through the $6.2 resistance level. If the $6.2 resistance level is not broken, the sellers’ momentum may pick up, causing them to break down the $5.7 support level, which would then cause the price to drop to the $5.1 and $4.9 support levels.

UNI/USD Market

Key Levels:

Resistance levels: $6.2, $6.6, $7.2

Support levels: $5.7, $5.1, $4.9

UNI/USD Long-term Trend: Bullish

Uniswap has a positive view for the long term. The sellers were in charge of the Uniswap pricing lat two weeks. On December 28, it fell to the support level of $4.9. The $4.9 support level held up under the sellers’ attack. The price rose and tried to break through the $5.7 barrier level. The level that was recently described was breached upward. It is currently moving in the direction of the $6.2 resistance level.

In order to start an uptrend, the fast-moving average (9-period EMA) has passed the slow-moving average (21-period EMA) upside. Uniswap is trading above the two dynamic support levels which is a sign of bullish momentum. Price levels of $6.6 and $7.2 may be reached if it is possible to break through the $6.2 resistance level. If the $6.2 resistance level is not broken, the sellers’ momentum may pick up, causing them to break down the $5.7 support level, which would then cause the price to drop to the $5.1 and $4.9 support levels. Indicating positive momentum, the Relative Strength Index is bending up at 65 levels.

UNI/USD Medium-term Trend: Bullish

Uniswap is Bullish on the 4-hour chart. When the coin reached the $4.9 support level, the sellers’ momentum appeared to have peaked. The Crypto’s reduction was at an end. More buyers came on board to drive up the price. The price gradually rose and surpassed the $5.7 resistance level. Currently, the cryptocurrency is aiming for resistance level of $6.2.

Uniswap is trading above both the 9- and 21-period exponential moving averages, and the period 14 relative strength index is at 65 levels, bending upward to offer a 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.