UNI/USD technical chart, Uniswap (UNI) It shows that the overall trend of the tokens is flat. Currently, the price continues to hover around the lower $14 support, trying to gain enough support for a new rally.
UNI/USD Daily Time Frame Chart
After the big crash on May 21 Uniswap It fell to $ 14 and could not recover, in addition, the token price could not exceed $ 32. After the big drop, the UNI price fluctuated between these two levels and the token continued to show a sideways trend.
The bullish RSI divergence on the technical outlook signals an upside break of the “triangle pattern”.
UNI The token started another short term decline after rejecting the $27.5 resistance, which brought the price down to the lower support zone around the 14.5 mark. The token is currently retesting this support level to check for sufficient demand pressure.
While the price has not previously secured a candle close below $14.5 in a correction phase, the price must offer a suitable follow-up to consider it a breakout. The current price of the token stands at $14.4 with an intraday gain of 1.62%.
Technical Indicators
The 100 and 200 EMAs also signaled a “bearish crossover” recently, while the key EMAs (20, 50, 100 and 200) indicate a bearish divergence.
The daily Relative Strength Index (33) has started to show some positive returns on this chart, causing the bulls to strengthen.
Based on the traditional pivot levels of the 4-hour chart, token traders can expect the closest resistance for UNI price at $16.6 followed by $18.2. On the other hand, support levels are at $12.7 and $10.56.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.