Uniswap (UNIUSD) Price Is Testing $30 Resistance Level

Uniswap Price Analysis – August 12

An increase in the bulls’ momentum will break up the resistance level of $30 and this may increase the price to $37 and $43 resistance levels. In case the resistance level of $30 holds, Uniswap price may decrease to $26, $21 and $14 price levels.

UNI/USD Market

Key Levels:

Resistance levels: $30, $37, $43

Support levels: $26, $21, $14

UNI/USD Long-term Trend: Bullish

On the long-term outlook, Uniswap is bullish. The bulls’ momentum is increasing and this is reflecting in the UNISWAP market. The crypto continue to increase, the former resistance level of $26 is broken upside, and a price retest is carried out on August 08. The following day, bullish movement is restored and it increases towards the resistance level of $30. The just mentioned resistance level is reached and it is pulling back.

The trading of Uniswap above the two EMAs continues which is an indication of bullish momentum. The fast moving average (9 periods EMA) retain its position above the slow moving average (21 periods EMA). An increase in the bulls’ momentum will break up the resistance level of $30 and this may increase the price to $37 and $43 resistance levels. In case the resistance level of $30 holds, Uniswap price may decrease to $26, $21 and $14 price levels. The Relative Strength Index is bending down above 70 levels indicating sell signal which may be a pullback.

UNI/USD Medium-term Trend: Bullish

Uniswap is bullish on the 4-hour chart. The double bottom chart pattern formed at the support level of $14 triggered the bullish momentum on the 4 hour chart. The former resistance level of $21 and $26 has turned to Support levels. The resistance level of $30 is tested.

Uniswap is trading below the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 50 levels bending down to indicate sell signal which may be a pullback.

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