Uniswap (UNIUSD) Price May Bounce at $12 Support Level

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Uniswap Price Analysis – July 22

Further increase in the bears’ pressure to break down the support level of $15 and daily candle closes below the mentioned level may lead to price decrease to the support level at $12 and $9 levels. In case the bulls defend the support level of $15, Uniswap price may increase to $22, $26 and $30 price levels.

UNI/USD Market

Key Levels:

Resistance levels: $22, $26, $30

Support levels: $15, $12, $9

UNI/USD Long-term Trend: Bearish

Uniswap is bearish on the long-term outlook. The crypto was moving up and down within the resistance level of $22 and support level of $15 last two weeks. On July 19, the pressure from the sellers increase and the support level of $15 was penetrated. The price tested the support level of $12, pulled back to retest the resistance level of $15. At the moment, the price is testing the dynamic resistance levels.

Uniswap continues its trading below the two EMAs at close contact which may indicate a price retracement, also the fast moving average (9 periods EMA) is below the slow moving average (21 periods EMA). Further increase in the bears’ pressure to break down the support level of $15 and daily candle closes below the mentioned level may lead to price decrease to the support level at $12 and $9 levels. In case the bulls defend the support level of $15, Uniswap price may increase to $22, $26 and $30 price levels. The Relative Strength Index is bending up at 40 levels which indicate a buy signal.

UNI/USD Medium-term Trend: Bullish

On the 4-hour chart, Uniswap is bullish. The bearish momentum pushed the price to test the support level of $12 last week; immediately after the breakout of the coin from the ranging zone, the sellers took over the Uniswap market and the price decline to the support level at $12. There is a tendency that the price may reverse at $12 level as the pin bar candle pattern emerges.

Uniswap is trading above the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 60 levels bending up to indicate buy signal.

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