Uniswap (UNIUSD) Price Is Targeting Previous High at $8.9

The are in control of  Uniswap market

Uniswap Price Analysis – November 03

When the bulls’ momentum increased, the resistance level of $7.2 may be broken upside and this may increase the price to $7.9 and $8.9 resistance levels. In case the bears defend the resistance level of $7.2, Uniswap price may decline to $6.9, $5.7 and $5.1 price levels.

UNI/USD Market

Key Levels:

Resistance levels: $7.2, $7.9, $8.9

Support levels: $6.9, $5.7, $5.1

UNI/USD Long-term Trend: Bullish

Uniswap is bullish on the long-term outlook. The price of UNISWAP could not go down further when it reaches the support level of $5.1 on 21 September. A “W” bullish chart pattern formed the following day, which is an indication that bulls are ready to push up the price. The price increases and tested the resistance level of $6.9. It pulled back and retested the support level of $5.1 and formed double bottom chart pattern.

The fast moving average (9 periods EMA) has crossed the slow moving average (21 periods EMA) upside. The Crypto has penetrates the two EMAs upside trading above it is an indication of bullish momentum. When the bulls’ momentum increased, the resistance level of $7.2 may be broken upside and this may increase the price to $7.9 and $8.9 resistance levels. In case the bears defend the resistance level of $7.2, Uniswap price may decline to $6.9, $5.7 and $5.1 price levels. The Relative Strength Index is bending up at 65 levels indicating a buy signal.

UNI/USD Medium-term Trend: Bullish

On the 4-hour chart, Uniswap is bullish. The price action formed a double bottom chart pattern at the support level of $5.1. This is what triggered a bullish trend towards the resistance level of $7.2. The resistance level of $6.9 is already penetrated upside. It is currently testing the resistance level of $7.2. Further price increase envisaged provided $7.2 does not hold.

 

Uniswap is trading above the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 59 levels bending up to indicate buy signal.

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