Uniswap (UNIUSD) Price Is Pulling Back to Retest $14 Support Level

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Uniswap Price Analysis – January 06

Ability to break down the dynamic support level may decrease it to previous low at $14, below the level are $12 and $6 support levels. In case the bulls were able to exert pressure to oppose the bears, the price may increase to the resistance level at $18, $22 and $24 levels.

UNI/USD Market

Key Levels:

Resistance levels: $18, $22, $24

Support levels: $14 $12, $6

UNI/USD Long-term Trend: Bearish

Uniswap is bearish on the long-term outlook. The bearish force has pushed the coin to the low of $14 support level. The just mentioned level holds the coin and the price could not decrease further. The bulls gather more momentum and more daily bullish candles were produced which indicate an increase in the bulls pressure. The price has tested the resistance level of $18 and it is pulling back at the moment.

Uniswap is trading slightly below the 9 periods EMA and 21 periods EMA which indicates an increase in bearish momentum. The fast moving average (9 periods EMA) is trying to cross the slow moving average (21 periods EMA) downside. Ability to break down the dynamic support level may decrease it to previous low at $14, below the level are $12 and $6 support levels. In case the bulls were able to exert pressure to oppose the bears, the price may increase to the resistance level at $18, $22 and $24 levels. However, the Relative Strength Index is bending down at 45 levels which indicate a sell signal.

UNI/USD Medium-term Trend: Bearish

On the 4-hour chart, Uniswap is bearish. The crypto bounces at the support level of $14 on December 20. The price steadily increased towards the resistance level of $18 and consolidates for few days. At the moment, the bears is prevailing over the bulls at the just mentioned level and it is gradually reversing towards the support level of $14.

Uniswap is trading below the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 40 levels bending down to indicate sell signal.

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