Uniswap (UNIUSD) Price Rebounds at $34 Support Level, Heading Towards $39

15 April 2021 | Updated: 15 April 2021
Uniswap Price Analysis – April 15

Should the bulls maintain or gain more pressure to break up the resistance level of $39, Uniswap price may increase to $44 and $50 price level. Failure to break up the resistance level of $39 by the bulls may result to bearish movement towards the support level at $34 and $29, which may extend to $24.

UNI/USD Market
Key Levels:

Resistance levels: $39, $44, $50

Support levels: $34, $29, $24

UNI/USD Long-term Trend: Bullish

Uniswap is bullish on the long-term outlook. The coin refused to obey the double top chart pattern formed two weeks ago on daily chart. The bulls interrupts the bearish movement of the price before it reaches the support level of $24. On April 12, a strong and massive daily bullish candle emerged and the price increases towards the resistance level at $39.

Uniswap daily chart, April 15

The 9 periods EMA has crossed the 21 periods EMA upside and Uniswap is trading above the two EMAs at a distance which indicates bullish volatility market. Should the bulls maintain or gain more pressure to break up the resistance level of $39, Uniswap price may increase to $44 and $50 price level. Failure to break up the resistance level of $39 by the bulls may result to bearish movement towards the support level at $34 and $29, which may extend to $24. The Relative Strength Index is bending up at 70 levels which indicate a strong buy signal.

UNI/USD Medium-term Trend: Bullish

On the 4-hour market, Uniswap is bullish. Shortly after the pullback to retest the resistance level of $29, the price started consolidation at $29 price level for more than three days. On April 12, the bulls increased their pressure and the resistance level of $34 is broken upside. Price retracement was carried out. The price is heading towards $39 at the moment.

Uniswap 4-hour chart, April 15

Uniswap is trading above the two EMAs as a sign of bullish movement. However, the relative strength index period 14 is pointing down at 70 levels indicates a sell signal which may be a pullback.

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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.