Uniswap (UNIUSD) Price: Weak Bullish and Bearish Momentum, Consolidation May Continue

Uniswap Price Analysis – March 03

The price may not continue a bearish trend if the support level of $9.72 holds, it will increase towards the resistance level of $13.87, $19.79 and $22.86 levels. More pressure from the bears will target and break down the $9.72 support level and decline to $6.81 and $4.01.

UNI/USD Market

Key Levels:

Resistance levels: $13.87, $19.79, $22.86

Support levels: $9.72, $6.81, $4.01

UNI/USD Long-term Trend: Bearish

Uniswap is bearish on the long-term outlook. The coin has been on the bearish trend for more than three weeks. It is trading within the downward channel. The crypto is yet to break out of the channel. Last week, there was no significant movement as the price is consolidating around the support level of $9.72.

Uniswap is trading below the 9 periods EMA and 21 periods EMA at close range which is an indication of weak bearish and bullish pressure. The fast moving average (9 periods EMA) remains below the slow moving average (21 periods EMA) with air gap between the two. The price may not continue a bearish trend if the support level of $9.72 holds, it will increase towards the resistance level of $13.87, $19.79 and $22.86 levels. More pressure from the bears will target and break down the $9.72 support level and decline to $6.81 and $4.01.

UNI/USD Medium-term Trend: Ranging

Uniswap is ranging on the 4-hour chart. The crypto is on the ranging zone within the $13.87 and $9.72 levels. There was a partial bearish breakout at $9.72 level last week but the bears interrupted the movement and the price returns to the ranging zone.

Uniswap is trading around the 9 periods EMA and 21 periods EMA as an indication of a ranging market. The relative strength index period 14 is at 51 levels bending up to indicate buy signal.

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