Uniswap (UNIUSD) Price May Decline Further After a Pullback
Login

Uniswap (UNIUSD) Price May Decline Further After a Pullback

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Bears dominate Uniswap market

Uniswap Price Analysis – 17 November

An increase in the bulls’ momentum will increase Uniswap, and the resistance level of $6.7 may be broken upside in which price may be increased to the resistance levels at $7.2 and $7.9. In case the sellers exert more pressure, Uniswap price may reduce to $5.7, $5.1, and $4.5 price levels. The Relative Strength Index is bending up at 45 levels indicating a buy signal.

UNI/USD Market

Key Levels:

Resistance levels: $6.7, $7.2, $7.9

Support levels: $5.7, $5.1, $4.5

UNI/USD Long-term Trend: Bearish

Uniswap is bearish on the long-term outlook. After the formation of the double pattern at $5.1 support level, the price increased and tested the resistance level of $7.9. The crypto could not break up the just-mentioned level as the buyers’ momentum became weak. At the resistance level of $7.9, a bearish engulfing candle formed and the price obeyed the command, The price declined and tested the support level of $4.5 on 09 November. The price is currently pulling back, testing the dynamic resistance level.

The fast-moving average (9-periods EMA) is below the slow-moving average (21-periods EMA). Uniswap is trading between the two EMAs. An increase in the bulls’ momentum will increase the price, and the resistance level of $6.7 may be broken upside in which the price may be increased to the resistance levels at $7.2 and $7.9. In case the sellers exert more pressure, Uniswap price may reduce to $5.7, $5.1, and $4.5 price levels. The Relative Strength Index is bending up at 45 levels indicating a buy signal.

UNI/USD Medium-term Trend: Bearish

On the 4-hour chart, Uniswap is bearish. The bullish movement which commenced at the support level of $5.7 could not continue when it reached the resistance level of $7.9. Sellers took over the market with the formation of more bearish candles. Sellers’ pressure pushed down the price to the low of $4.5 support level. Further price reduction is possible after a pullback.

Uniswap is trading below the 9-periods EMA and 21-periods EMA, the relative strength index period 14 is at 47 levels bending down to indicate sell signal.

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