Bears are trying to penetrate $6.0 support level in Uniswap market
Uniswap Price Analysis – September 04
Ability to break down $6.0 price level by the sellers, Uniswap price may decrease to $4.5, and $3.4 price levels. In case the buyers were able to oppose the pressure of the sellers, the price may increase to the resistance level at $7.9, $9.7 and $12.4 levels.
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. Bearish momentum continues in the Uniswap market. The support level of $7.9 could not hold the price, it is penetrated and dropped to the support level of $6.0. The price is trying to break down the just mentioned level at the moment. The bears’ pressure is trying to push the price below the support level of $6.0 but Bulls are resisting the sellers’ pressure.
Uniswap continue its trading between the 9 periods EMA and 21 periods EMA which indicates a decrease in bearish momentum. The fast moving average (9 periods EMA) is below the slow moving average (21 periods EMA). Ability to break down $6.0 price level by the sellers, Uniswap price may decrease to $4.5, and $3.4 price levels. In case the buyers were able to oppose the pressure of the sellers, the price may increase to the resistance level at $7.9, $9.7 and $12.4 levels. However, the Relative Strength Index is bending down at 35 levels which indicate a sell signal.
