Uniswap (UNIUSD) Price Is Targeting $5.7 Support Level
Login

Uniswap (UNIUSD) Price Is Targeting $5.7 Support Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Sellers’ momentum increases in Uniswap market

Uniswap Price Analysis – 09 March

In case the $6.2 resistance level is breached by strong buying pressure, the cryptocurrency may breach the $6.6 resistance level and challenge the $7.2 level. The $5.1 and $4.9 price levels would come under investigation if sellers are successful in breaking through the $5.7 support level.

UNI/USD Market

Key Levels:

Resistance levels: $6.2, $6.6, $7.2

Support levels: $5.7, $5.1, $4.9

UNI/USD Long-term Trend: Bearish

Uniswap is bearish on the daily outlook. The Uniswap market was dominated by sellers past three weeks. Considering that there were more sellers, the price was falling toward the $6.2 support level. The bulls’ momentum found it difficult to go over the $7.2 level obstacle. Last week, as the sellers put greater pressure on the price, the $6.2 level was broken. The market is currently moving in the direction of the $5.7 support level as bears gained momentum.

A negative trend is evident when the currency trades below the two dynamic resistance levels on the Uniswap market. In case the $6.2 resistance level is breached by strong buying pressure, the cryptocurrency may breach the $6.6 resistance level and challenge the $7.2 level. The $5.1 and $4.9 price levels would come under investigation if sellers are successful in breaking through the $5.7 support level. The Relative Strength Index period 14 bending down at 42 levels indicates bearish momentum.

UNI/USD Medium-term Trend: Bearish

Uniswap’s 4-hour chart indicates a bearish bias. The excitement of buyers subsided as the cryptocurrency approached the $7.2 barrier level over the past three weeks. The Cryptos retreated. The price decreased as new vendors entered the market. The price is falling further as it breaches the $6.2 support level.

Price may finally approach the $5.7 barrier level if sellers apply further pressure. In addition, as Uniswap moves closer to the $5.7 support level, it is trading below the 9- and 21-period exponential moving averages. The period 14 Relative Strength Index is at 36 levels, signaling a sell.

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