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Buyers’ momentum again may increase in Uniswap market
Uniswap Price Analysis – 13 July
The $5.7 and $6.1 resistance levels may be broken if there is enough buying pressure to go past the $5.4 resistance level. Uniswap levels of $4.9 and $4.7 will be tested if sellers are able to push the price below the $5.1 support level.
UNI/USD Market
Key Levels:
Resistance levels: $5.4, $5.7, $6.1
Support levels: $5.1, $4.9, $4.7
UNI/USD Long-term Trend: Bullish
On the daily Chart, Uniswap is moving in a bullish way. When the price reached the $3.9 level on June 10th, a bearish trend came to an end. The price increased as the bulls protected the previous level. The pressure of the bulls broke through the $4.9 resistance level. The price tested the $5.7 resistance level after breaking through the $5.1 resistance level as the positive momentum picked up. The price is currently pulling back to retest $5.1 level.
The fact that Uniswap is trading slightly below the two EMAs indicates negative movement. The $5.7 and $6.1 resistance levels may be broken if there is enough buying pressure to go past the $5.4 resistance level. The price levels of $4.9 and $4.7 will be tested if sellers are able to push the price below the $5.1 support level. At level 52, the period 14 relative strength index bends down, signaling a sell signal
UNI/USD Medium-term Trend: Bullish
Uniswap 4-hour chart indicates a bullish bias. The price action has formed an ascending channel in the 4-hour time frame. The cryptocurrency tested the $3.5 support level on June 10. The bulls mounted after effectively holding the previous level. The price rose and breached the $5.1 barrier level as a consequence of an increase in the bulls’ pressure breaking through the $4.9 resistance level, resulting in the formation of strong bullish candles. The coin reached a high of $5.7 before it started a pullback.
Sellers’ pressure is currently being applied to the price. Uniswap is trading slightly below the exponential moving averages of 9 and 21 periods moving average.
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