Uniswap (UNIUSD) Price Penetrates $26 Level, Targeting $37

Uniswap (UNIUSD) Price Penetrates $26 Level, Targeting $37

Uniswap Price Analysis – May 27

An increase in the bulls’ pressure to break up the resistance level of $30 may lead to price increase to the resistance level at $37 and $43 levels. In case the bears defend the resistance level of $30, Uniswap price may decrease to $26, $21 and $15 price levels.

UNI/USD Market

Key Levels:

Resistance levels: $30, $37, $43

Support levels: $26, $21, $15

UNI/USD Long-term Trend: Bullish

Uniswap is bullish on the long-term outlook. The bears dominated the market last two weeks. The coins found support at $15. A bullish engulfing candle emerges which triggered a bullish trend. The coin increases and penetrates the dynamic support resistance upside. There is tendency for further increase in the price.

Uniswap Daily chart, May 27

Uniswap is crossing above the two EMAs and it is trading above the 9 periods EMA which indicates an increase in the bulls’ momentum, also the fast moving average (9 periods EMA) is attempt the crossing of the slow moving average (21 periods EMA) upside. An increase in the bulls’ pressure to break up the resistance level of $30 may lead to price increase to the resistance level at $37 and $43 levels. In case the bears defend the resistance level of $30, Uniswap price may decrease to $26, $21 and $15 price levels. The Relative Strength Index is bending up at 60 levels which indicate a buy signal.

UNI/USD Medium-term Trend: Bearish

On the 4-hour chart, Uniswap is bullish. Uniswap was bearish last two weeks on the 4hour chart, the bearish pressure was increasing and the price decreased to the low of $12 level. The crypto could not go down beyond the level because of the interruption from the bulls at $12 support level. This interruption is noticed with the formation of a pin bar candle at the mentioned level.

Uniswap 4 hours chart, May 27

Uniswap is trading above the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 40 levels bending down to indicate sell signal which may be a pullback.

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Author : Azeez Mustapha

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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.