Uniswap (UNIUSD) Price May Bounce Up at Support Levels at $15

24 June 2021 | Updated: 24 June 2021

Uniswap Price Analysis – June 24

Inability to break down $15 price level by the bears, Uniswap price may increase to $21, $27 and $34 price levels. In case the bears were able to exert pressure to break down the support level of $15, the price may decrease to the support level at $12 and $9 levels.

UNI/USD Market

Key Levels:

Resistance levels: $21, $27, $34

Support levels: $15 $12, $9

UNI/USD Long-term Trend: Bearish

On the long-term outlook, Uniswap is bearish. Bearish momentum continues in the Uniswap market. The support level of $21 could not hold the price, it is penetrated and dropped to the support level of $15. The price is trying to pull back at the moment. The bulls’ pressure is trying to push the price back at the support level of $15.

Uniswap Daily chart, June 24

 

Uniswap continue its trading below the 9 periods EMA and 21 periods EMA which indicates an increase in bearish momentum. The fast moving average (9 periods EMA) is below the slow moving average (21 periods EMA). Inability to break down $15 price level by the bears, Uniswap price may increase to $21, $27 and $34 price levels. In case the bears were able to exert pressure to break down the support level of $15, the price may decrease to the support level at $12 and $9 levels. However, the Relative Strength Index is bending up at 30 levels which indicate a buy signal.

UNI/USD Medium-term Trend: Bearish

On the 4-hour chart, Uniswap is bearish. The bears gain momentum at the resistance level of $29 and the bearish movement continues. At the same time, the bears’ momentum increases and it break down the support level of $21. The price decline to test the support level at $15.

Uniswap 4 hour chart, June 24

Uniswap is trading between the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 50 levels bending up to indicate buy signal.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.