UNIUSD Uniswap

UNI’s price shows the first sign of bounce after forming a bullish pattern as the price gets rejected into a range channel.  UNI bounced off its downtrend movement as the price broke its resistance of $6.8 but failed to hold this region.  The price of UNI continues in its range movement as the price gets rejected into a range and trades below the 50 Exponential Moving Average (EMA). Uniswap (UNI), a one-time favorite of many in the crypto industry, has failed to live up to the hype it once had as its price rallied from a low of $3 to $30. The crypto market, including the big players like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), has had a quiet month as the prices of most altcoins have found themselves fighting for survival as they seek to defend their key support areas. The price of UNI, despite having a good start in recent weeks, formed a bullish pattern but failed to complement this structure with some rally. (Data from Binance) Related Reading: Altcoin Exchange Dominance Rises To 50%, What Does It Mean For Bitcoin? Uniswap (UNI) Price Analysis On The Weekly Chart. Uniswap has struggled to regain its bullish momentum in recent times; despite the uncertainty that has befallen the crypto space, the price of UNI hasn’t enjoyed a measure of relief after showing so much strength on the weekly chart rallying from a low of $3.5 to a high of $9.5 before facing rejection from that region.  After the price of UNI rallied to a high of $9.5, the price has faced rejection to break higher to a region of $10, and the price has continued to struggle to stay afloat, considering how tough the crypto market has been lately. The price of UNI dropped to a low of $5 after rejection from the high of $9.5; the price of UNI bounced from that region to a high of $6.5, where the price was rejected into a range channel.  Weekly resistance for the price of UNI – $10. Weekly Support for the price of UNI – $5.5. Price Analysis Of UNI On The Daily (1D) Chart In the daily timeframe, the price of UNI continues to trade below the key resistance formed at 50 EMA after forming a cup and handle pattern but failed to complete the pattern as the price was rejected into the range. The price of $7 acts as the resistance holding the price of UNI from breaking the range and trending higher. The price of UNI needs to break and hold above $7 for the price to trend higher to a region of $9.5-$10, which is a key supply zone for most traders. If the UNI price fails to break above this region, we could see the price retest its Support at $5.5. Daily resistance for the UNI price – $9.5-$10. Daily Support for the UNI price – $5.5. Related Reading: Twitter Working On Its Own Crypto Wallet Prototype Featured Image From zipmex, Charts From Tradingview