Uniswap (UNI) Reaches Bearish Exhaustion, Uptrend Likely
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Technical indicators:
Major Resistance Levels – $35.00,$37.00,$39.00
Major Support Levels – $22.00,$20.00,$18.00
Uniswap (UNI) Price Long-term Prediction:
UNI/USD has been trading below the $35 overhead resistance. For the past month in March, buyers have retested the overhead resistance twice. The bulls are yet to break the overhead resistance. Today, the altcoin is rising to retest the overhead resistance. In the previous attempts, the bulls were resisted as the altcoin declined to $29 low. On the upside, if the bulls break the $35 overhead resistance, the market will resume an uptrend. In the last downtrend, the bears sank the coin to $25 low. If bears decide to break the $0.25 support, the coin will further decline.
Uniswap (UNI) Indicator Reading
UNI has risen to level 52 of the Relative Strength Index period 14. The coin is in the uptrend zone and capable of rising on the upside. The 21-day SMA and the 50-day SMA are sloping upward. The altcoin price is above the 50-day SMA. The market will rise if the bulls break above the 21-day SMA.
What is the next direction for Uniswap (UNI)
UNI is in a downward correction. From the price action, the market has fallen to the low of $25.70 and pulled back. Presently, the crypto’s price is consolidating above the $28 support. The market has reached bearish exhaustion
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