Uniswap Price Analysis – November 04
When the bulls gain more pressure to break up the resistance level of $27, the price will increase to the resistance level at $30 which may extend to $37 level. In case the bears increase pressure to break down the support level of $21, Uniswap price may decrease to $17 and $14 price level.
UNI/USD Market
Key Levels:
Resistance levels: $27, $30, $37
Support levels: $21, $17, $14
UNI/USD Long-term Trend: Ranging
Uniswap is on the ranging mode on the long-term outlook. Buyers push up the Uniswap to test the resistance level of $27 at first on October 01. The resistance level of $27 holds the price. Since then, buyers’ pressure is weak and could not break up $27 price level. The bears’ momentum seems low and could not break down the support level of $21. The price is ranging within $27 and $21 price levels at the moment.
Uniswap is trading over and around the two EMAs which indicates a ranging momentum, also the fast moving average (9 periods EMA) remains interlocked with the slow moving average (21 periods EMA). When the bulls gain more pressure to break up the resistance level of $27, the price will increase to the resistance level at $30 which may extend to $37 level. In case the bears increase pressure to break down the support level of $21, Uniswap price may decrease to $17 and $14 price level. The Relative Strength Index is bending down at 60 levels which indicate a sell signal.
UNI/USD Medium-term Trend: Ranging
On the 4-hour chart, Uniswap is ranging. The bears’ momentum become weak when the price reached the support level at $21. The level could not be broken downside and the resistance level of $27 seems stronger than the bullish momentum. Uniswap is experiencing a consolidation movement at moment.
Uniswap is hovering over the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is above 50 levels bending up to indicate buy signal.
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