Uniswap Price Analysis: Is This a Right Time to Sell UNI?

  • Uniswap failed to break the resistance at $29.30 and fell at $27.45 on Friday’s Trading session
  • The SuperTrend indicator projects a buy signal, until now no signs of downtrend has been observed
  • UNI/BTC pair was trading at 0.0005853 BTC with a gain of 3.85%
Source: TradingView

The 4-hour technical chart of Uniswap projects a buy signal with an uptrend presented by the SuperTrend indicator. Investors are meant to buy when this indicator turns from red to green while moving below the price. However long the SuperTrend signals a bullish trend, Uniswap’s downtrend is ensured.

Uniswap (UNI) Bulls Trying Hard To Get Back in Game

Source: UNI/USD on TradingView

Uniswap price was $27.45. According to pivot points, UNI’s critical support level is placed at $24.87. Whereas if it moves up, the key resistance level to watch is $29.33. While diving into the weekly chart of a 4-hour time-frame, it completes a bearish hammer candlestick pattern, which represents a potential reversal in an uptrend.

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SMA-50 & 100 acts as another strong support in the coin. SMA-50 (purple) moves above the SMA-100 (white), which projects a positive trend. Investors can observe the price is above both the SMA’s and falling towards the SMA-50 on Friday’s trading session.

RSI indicator (BEARISH), with a value of 55 indicates a sell signal in the coin, investors can observe a drop in value from 68 to 55. Investors should hold the asset and wait for the RSI to get back into upward slope.  

Hold Your Positions in Uniswap

Uniswap traded at $27.45 with a loss of 2.75% in the last 24-hour time-frame. On the weekly time-frame, UNI is maintaining a healthy gain of 24.95%. In contrast, the market capitalization stands at $12 billion. Technically, UNI is Making efforts to gain back its bullish regime with a slight price correction in Friday’s trading session.

Resistance: $29.33

Support: $24.87

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Nikhil Ingolehttp://themarketperiodical.com
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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