The bears oppose further price increase at $9.7 level in Uniswap market

Uniswap Price Analysis – August 21

When the support level of $6.0 is reached and break downside, price level may decrease to $4.5 and $3.4 support levels. In case the bulls were able to defend the support level of $6.0, Uniswap may bounce up towards the resistance levels of $7.9, $9.7 and $12.4.

UNI/USD Market

Key Levels:

Resistance levels: $7.9, $9.7, $12.4

Support levels: $6.0, $4.5, $3.4

UNI/USD Long-term Trend: Bearish

On the long-term outlook Uniswap is bearish. On July 28, the coin found resistance at $9.7. Bulls tried to break up the mentioned level but sellers interrupts the price increase at the same level. The price started decreasing. Sellers gathered momentum to push down price. The price is broke down the support level of $7.9. More bearish candles are producing and the price may going down accordingly to $6.0 level.

Uniswap is trading below the 9 periods EMA and 21 periods EMA which indicates an increase in bearish momentum. The fast moving average (9 periods EMA) is crossing the slow moving average (21 periods EMA) downside. When the support level of $6.0 is reached and break downside, price level may decrease to $4.5 and $3.4 support levels. In case the bulls were able to defend the support level of $6.0, Uniswap may bounce up towards the resistance levels of $7.9, $9.7 and $12.4. The Relative Strength Index is bending up at 39 levels indicating buy signal which may be a pullback.

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UNI/USD Medium-term Trend: Bearish, Tamadoge Soaring Higher

On the 4-hour chart, Uniswap is bearish. The coin consolidated for some time when it reached the resistance level of $9.7. The bears opposed the price increase which started two weeks ago. The bulls lose momentum at $9.7 price level and the bears are taking over the market. The crypto decreases and it has broken down $7.9 level. It is currently facing the support level of $6.0.

Uniswap is trading below the 9 periods EMA and 21 periods EMA at close contact, the relative strength index period 14 is at 40 levels bending up to indicate buy signal which may be a pullback.

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