Uniswap (UNIUSD) Price Is Range-Bound Within $6.7 and $5.7 Levels

Updated:

Uniswap Price Analysis – September 15

When the sellers break down $5.7 price level, it will push Uniswap price to $4.5 and $3.4 price levels. In case the bulls were able to exert pressure to break up the resistance level of $6.7, the price may increase to the resistance level at $7.2 and $7.9 levels

UNI/USD Market

Key Levels:

Resistance levels: $6.7, $7.2, $7.9

Support levels: $5.7, $4.5, $3.4

UNI/USD Long-term Trend: Bearish

Uniswap is bearish on the long-term outlook. The control of the sellers over the Uniswap is not yet over. The coin has been under the control of sellers for more than two weeks. The support level of $5.7 was reached on 27 August. The just mentioned level is currently holding the price. The price is trying to break down the $5.7 level but buyers are defending the level. The resistance level of $6.7 equally holds the price; Uniswap is ranging within the mentioned levels.

Uniswap is trading around the 9 periods EMA and 21 periods EMA which indicates ranging movement. The slow moving average (21 periods EMA) is interlocked with fast moving average (9 periods EMA). When the sellers break down $5.7 price level, it will push Uniswap price to $4.5 and $3.4 price levels. In case the bulls were able to exert pressure to break up the resistance level of $6.7, the price may increase to the resistance level at $7.2 and $7.9 levels. However, the Relative Strength Index is displaying no specific direction which indicate a ranging market.

UNI/USD Medium-term Trend: Ranging

On the 4-hour chart, Uniswap is ranging. When sellers lose momentum at the support level of $5.7, the bulls pushed the price to the resistance level of $6.7. The bulls’ momentum is not enough to break up the mentioned level. At the same time, the bears’ momentum is weak and unable to decrease price below $5.7. The coin started making a ranging movement within $6.7 and $5.7 levels.

Uniswap is trading around the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 43 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.