Uniswap (UNIUSD) Price Is Gathering Momentum to Break Up $26 Resistance Level

14 October 2021 | Updated: 14 October 2021

Uniswap Price Analysis – October 14

In case there is a breakup at the $26 resistance level, price may increase to $30 and $37 resistance levels. When bulls could not break up the resistance level of $26, continuation of ranging market is possible or there will be bearish reversal towards the support levels at $21, $17 and $14.

UNI/USD Market

Key Levels:

Resistance levels: $26, $30, $37

Support levels: $21, $17, $14

UNI/USD Long-term Trend: Bullish

Uniswap is bullish on the long-term outlook. Last week, the coin trades within the range of $26 resistance level and $21 support level. The buyers and the sellers are at war. Until the price break out either to the south or to the north the ranging movement may continue. However, the pressure of the bulls is increasing and there is tendency for bullish breakout at $26 ressitance level.

Uniswap daily chart, October 14

Uniswap continue its trading above the 9 periods EMA and 21 periods EMA which indicate continuation of bullish movement. The fast moving average (9 periods EMA) is above the slow moving average (21 periods EMA). In case there is a breakup at the $26 resistance level, price may increase to $30 and $37 resistance levels. When bulls could not break up the resistance level of $26, continuation of ranging market is possible or there will be bearish reversal towards the support levels at $21, $17 and $14.

UNI/USD Medium-term Trend: Bullish

Uniswap is bullish on the 4-hour chart. The Crypto was consolidating around the $26 supply zone last week. The sellers initially prevailed and push the coin towards the low of $21. Buyers opposed the bearish movement with the formation of bullish engulfing candle before it reach the mark and the price increases towards the resistance level of $26.

Uniswap 4 hour chart, October 14

Uniswap maintain its trading above the 9 periods EMA and 21 periods EMA after crossing the two. The relative strength index period 14 is above 50 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.