Uniswap (UNIUSD) Price May Reduce to $22 Support Level

Uniswap Price Analysis – August 26

The support level of $25 may be penetrated downside if the bears gain more pressure and the price will decline to $22 and $14 price level. When the bulls increase their momentum, $30 resistance level will be broken upside and the resistance level of $34 and $37 may be tested.

UNI/USD Market

Key Levels:

Resistance levels: $30, $34, $37

Support levels: $25, $22, $14

UNI/USD Long-term Trend: Bearish

Uniswap is bearish on the long-term outlook. The resistance level of $30 was reached last week when the bulls gained more pressure. The just mentioned level was defended by the bears coupled with the weak bullish momentum at the same level, the price started declining towards the support level of $25. This is the second time the price will be testing $25 level, more pressure from the bears may break it down.

Uniswap is penetrating the two EMAs downside. The coin is trading below the 9 periods EMA and 21 periods EMA which is an indication of bearish momentum. The support level of $25 may be penetrated downside if the bears gain more pressure and the price will decline to $22 and $14 price level. When the bulls increase their momentum, $30 resistance level will be broken upside and the resistance level of $34 and $37 may be tested. The Relative Strength Index is pointing down at 50 levels indicating sell signal.

UNI/USD Medium-term Trend: Bearish

Uniswap is bearish on the 4-hour chart. The bullish momentum could not continue when it reaches the resistance level of $30. It pulled back to retest the $25 level. Attempt was made second time to test the $30 level but the bears prevail over the bulls. The price is decreasing towards the $22 support level.

Uniswap is trading below the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 40 levels bending down to indicate sell signal.

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