Uniswap (UNIUSD) Price: Will There Be a Bullish Reversal at $5.7 Level?
Login

Uniswap (UNIUSD) Price: Will There Be a Bullish Reversal at $5.7 Level?

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Buyers’ momentum may increase further in Uniswap market

Uniswap Price Analysis – 30 March

In case there is significant buying pressure and the $6.2 resistance level is overcome, the $6.6 and $7.2 levels may also be broken. The $5.1 and $4.9 price levels will be examined if sellers are successful in breaching the $5.7 support level.

UNI/USD Market

Key Levels:

Resistance levels: $6.2, $6.6, $7.2

Support levels: $5.7, $5.1, $4.9

UNI/USD Long-term Trend: Bearish

Uniswap is bearish on the daily outlook. The $7.2 barrier level was too much for the bulls’ momentum to overcome. During the past five weeks, sellers have dominated the Uniswap market. On March 11, the price surged up to retest the resistance level of $6.6 after the $5.1 support level was tested. The price was decreasing toward the $6.2 support level since there were more sellers. As the sellers increased their pressure on the price last week, the $6.2 ceiling was broken and the price lowered below $5.7.The market is currently experiencing a pullback as the bulls are opposing the bears.

The currency is trading below the two dynamic resistance levels at close range in the Uniswap market, a weak bearish trend is readily discernible. In case there is significant buying pressure and the $6.2 resistance level is overcome, the $6.6 and $7.2 levels may also be broken. The $5.1 and $4.9 price levels will be examined if sellers are successful in breaching the $5.7 support level. Bullish momentum is shown by the Relative Strength Index period 14 bending up at 46 levels.

UNI/USD Medium-term Trend: Bullish

Uniswap’s 4-hour chart indicates a bullish bias. The excitement among buyers started to dwindle a few weeks ago as the cryptocurrency got close to the $7.2 mark. The Cryptos pulled back. As more suppliers entered the market, the price fell. As the price breaks through the $6.2 support level, it begins to decline even more to $5.7 level. Buyers oppose sellers at just mentioned level and it is currently increasing.

Buyers’ price pressure may eventually cause it to surpass the $6.2 threshold. Uniswap is also trading above the 9- and 21-period exponential moving averages as it approaching the $6.2 resistance level. A buy is indicated by the 14-period relative strength index being at 55 levels.

You can purchase Lucky Block here Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News