Uniswap (UNIUSD) Price Retests Previous Low at $4.5 Level

Bears dominate Uniswap market

Uniswap Price Analysis – November 10

Should the bulls’ momentum increase further, the resistance level of $5.7 may be broken upside and this may increase the Uniswap to $6.6 and $7.2 resistance levels. In case the sellers exert more pressure, Uniswap price may decline to $5.1, $4.5 and $3.4 price levels.

UNI/USD Market

Key Levels:

Resistance levels: $5.7, $6.6, $7.2

Support levels: $5.1, $4.5, $3.4

UNI/USD Long-term Trend: Bearish

Uniswap is bearish on the long-term outlook. The crypto was under the control of the bulls last week. The double bottom chart pattern formed at $5.1 support level geared the bulls in to action. The price of UNISWAP increased to the resistance level of $7.9. A bearish engulfing candle emerged which indicate the full pressure from the sellers. The price decreases suddenly to the low level at $4.5 level.

The fast-moving average (9-periods EMA) is crossing the slow-moving average (21-periods EMA) downside to establish a bearish trend. The Crypto has penetrated the two EMAs downside, trading below it is an indication of bearish momentum. Today, the buyers dominate the Uniswap market, the price pulls back. Should the bulls’ momentum increase further, the resistance level of $5.7 may be broken upside and this may increase the price to $6.6 and $7.2 resistance levels. In case the sellers exert more pressure, Uniswap price may decline to $5.1, $4.5, and $3.4 price levels. The Relative Strength Index is bending up at 42 levels indicating a buy signal which may be a pullback.

UNI/USD Medium-term Trend: Bearish

On the 4-hour chart, Uniswap is bearish. The price increase that commenced on October 13 reached the resistance level of $7.9 on November 05. The bulls’ momentum failed and the price declines to $4.5 level. The previous support level of $6.7 and $5.7 has turned into resistance levels.  At the moment, the price is pulling back.

Uniswap is trading between the 9-periods EMA and 21-periods EMA, the relative strength index period 14 is at 41 levels bending up to indicate buy signal.

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