Uniswap (UNIUSD) Price Is Heading Towards $7.2 Resistance Level
Login

Uniswap (UNIUSD) Price Is Heading Towards $7.2 Resistance Level

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Bulls continue to dominate Uniswap market

Uniswap Price Analysis – 02 February

In case the bulls can overcome the $7.2 resistance level, price levels of $7.9 and $8.9 may be tested. If the $6.6 support level is broken, the selling pressure might increase, which would cause Uniswap to break the $6.2 support level and drop to $5.7.

UNI/USD Market

Key Levels:

Resistance levels: $7.2, $7.9, $8.9

Support levels: $6.6, $6.2, $5.7

UNI/USD Long-term Trend: Bullish

Uniswap is bullish on the daily outlook. The Uniswap market was dominated by purchasers in the preceding weeks. As the demand from the purchasers increased, the price reached a high of $6.6. The obstacle at the $6.6 resistance level proved to be great for the bulls’ momentum to clear. The sellers put further pressure, the previously mentioned level was held, and the $6.2 level was retested. The UNI market is continuing in a bullish trajectory as bulls are regaining strength. Last week, the resistance level of $6.6 was penetrated and the price is facing $7.2 at the moment.

The trading of the currency above the two dynamic support levels in the Uniswap market is a sign of bullish momentum. In case the bulls can overcome the $7.2 resistance level, price levels of $7.9 and $8.9 may be tested. If the $6.6 support level is broken, the selling pressure might increase, which would cause the cryptocurrency to break the $6.2 support level and drop to $5.7. The Relative Strength Index period 14 bending up at 61 levels indicates bullish momentum.

UNI/USD Medium-term Trend: Bullish

Uniswap’s 4-hour chart indicates a bullish bias. The purchasers’ enthusiasm waned last week when the cryptocurrency approached the $6.6 resistance level. The Cryptos backed off. More vendors entered the market, driving down the price. Price continued to decline till it hit the $5.7 support level. The buyers halted business operations and after gaining more pressure and the price was pushed above $6.6 resistance level.

The current resistance level for the coin is $7.2. The period 14 Relative Strength Index is at 62 levels, bending upward to provide a buy signal, and Uniswap is trading above the 9- and 21-period exponential moving averages.

You can purchase Lucky Block here Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News