Uniswap Price Analysis – November 25
In case the bears’ pressure increases, price may be pushed to break down the support level of $19, the price will be exposed to $14 and $12 levels. The breakout at the resistance level of $22 will increase the price to $24 and $27 levels.
UNI/USD Market
Key Levels:
Resistance levels: $22, $24, $27
Support levels: $19, $14, $12
UNI/USD Long-term Trend: Bearish
Uniswap is on the bearish movement on the long-term outlook. The cryptocurrency broke out of the ranging movement within $27 and $24 levels last two weeks on November 16. A strong daily bearish candle formed to penetrate the support level of $24 and the price tested the support level of $19. The mentioned level holds and the price consolidates within $22 and $19 levels throughout last week.
The bearish symbol is already establish as 9 periods EMA is below the 21 periods EMA. Uniswap has crossed the two EMAs downside, Price is trading below the two EMAs. In case the bears’ pressure increases, price may be pushed to break down the support level of $19, the price will be exposed to $14 and $12 levels. The breakout at the resistance level of $22 will increase the price to $24 and $27 levels. Relative Strength Index is at 40 levels displaying no specific direction.
UNI/USD Medium-term Trend: Ranging
Uniswap is ranging on the 4-hour chart. The bears’ momentum decreases and the support level of $19 could not be broken down by the price. The buyers’ pressure is not strong enough to break up the resistance level of $22. Uniswap price is dangling within the resistance level of $22 and support level of $19. Ranging movement continues until there is a breakout.
Uniswap is trading over and around the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at $40 levels displaying bearish direction.
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