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Uniswap may retest $6.1 resistance level
Uniswap Price Analysis – 27 July
The $6.4 and $6.6 resistance levels may be breached if adequate purchasing pressure is applied to push past the $6.1 resistance level. The price levels of $5.4 and $5.1 will be put to the test if sellers are able to push the price below the $5.7 support level.
UNI/USD Market
Key Levels:
Resistance levels: $6.1, $6.4, $6.6
Support levels: $5.7, $5.4, $5.1
UNI/USD Long-term Trend: Bullish
Uniswap is moving in a bullish way on the daily Chart. When the price reached $3.9 on June 10, a downward trend came to a stop. The price increased as the bulls held onto the previous level. The bulls’ pressure forced the resistance level at $5.1 to be broken. Price targeted the $6.1 barrier level after moving past the $5.4 resistance level as positive momentum grew. The price fell back and tried again at the $5.7 level. The Bulls are currently attempting to break through the $6.1 mark.
Price inclination is shown by the fact that Uniswap is trading above the two EMAs. The $6.4 and $6.6 resistance levels may be breached if adequate purchasing pressure is applied to push past the $6.1 resistance level. The price levels of $5.4 and $5.1 will be put to the test if sellers are able to push the price below the $5.7 support level. At level 58, the period 14 relative strength index curves upward, signaling a buy.
UNI/USD Medium-term Trend: Bullish
Uniswap 4-hour chart indicates a bullish bias. The price movement has formed an ascending channel in the 4-hour time frame. The cryptocurrency tested the $3.5 support level on June 10. The bulls mounted after holding the previous level with ease. Uniswap surged above the $5.7 barrier level as a result of an increase in the bulls’ pressure breaking through the $5.1 old resistance level, which caused the emergence of strong bullish candles. Coin’s price rose toward a peak of $6.1.
The purchasers are currently exerting price pressure. A little bit above the exponential 9- and 21-period moving averages, Uniswap is now trading.
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