Uniswap (UNIUSD) Price May Incline to $14 Resistance Level

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Uniswap Price Analysis – February 10

An increase in the bulls’ pressure will push the price to break up the resistance level of $14, which may lead to $16 and $18 resistance level. In case the bears interrupt the bulls, the support level of $12 may be broken downside, below the level are $9 and $6 support level.

UNI/USD Market

Key Levels:

Resistance levels: $14, $16, $18

Support levels: $12, $9, $6

UNI/USD Long-term Trend: Bearish

Uniswap is bearish on the long-term outlook. The crypto found support at $9 level. The first touch was on January 27, it pulled back to retest the resistance level of $12. The bears opposed the increase and the support level of $9 was retested second time.  The bulls prevailed and the resistance level of $12 is broken upside. The price is currently consolidating around $12 level.

Uniswap is trading above the two EMAs which indicates that bulls are trying to take over the Uniswap market. Also the fast moving average (9 periods EMA) is trying to cross over the slow moving average (21 periods EMA) upside. An increase in the bulls’ pressure will push the price to break up the resistance level of $14, which may lead to $16 and $18 resistance level. In case the bears interrupt the bulls, the support level of $12 may be broken downside, below the level are $9 and $6 support level. The Relative Strength Index is bending down at 50 levels which indicate a sell signal.

UNI/USD Medium-term Trend: Ranging

On the 4-hour chart, Uniswap is on the ranging movement. The sellers have been ruling the Uniswap market for many days. The support level of $9 was reached on 24 January. The bears’ and the bulls’ momentum became weak and the price started a ranging movement within the resistance level of $12 and the support level of $9. There is a tendency that the price may incline further towards the resistance level of $14.

Uniswap is trading around the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 50 levels bending down to indicate sell 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.