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Uniswap Price Prediction September 2021: Support Needed In The Coming Hours For UNI

Uniswap Price Prediction September 2021: Support Needed In The Coming Hours For UNI

UNI Technical Analysis – September 2021

Monthly Analysis

In the last 30 days, UNI increased by 24%. Then, its price was followed by a dip of 35%. Its price has been attempting to rebound in the last few days. However, its price recently encountered resistance at $27.6. Since then, the price has been constantly declining.

Uniswap Price Prediction September 2021: Support Needed In The Coming Hours For UNI

Weekly Analysis 

In the last 7 days, UNI increased by 28%. Nonetheless, its price has been declining in the last couple of days, and the shorter-term trend is bearish.

Daily Analysis

In the intraday chart, UNI has been highly volatile, and its price has been declining in the last couple of days. A head-and-shoulders pattern has been slowly emerging in the intraday chart, and the neckline might be a good structure for support. If that is broken, then we might see the trend reverse.

Uniswap Price Prediction September 2021: Support Needed In The Coming Hours For UNI

Key Structures

Support

  • $21.4

Resistance

  • $27.6

Indicators

Moving Average

The 20-day moving average is now above the price This might indicate that the trend is now descending and that the MA line can act as resistance in the coming days.

The 9-day EMA has been below the price in the last couple of days. Due to this, the EMA line may support the current movement and prevent a possible reversal for UNI.

Relative Strength Index

The RSI is fairly average, and due to the recent dip, it is now below 50. This indicates that the momentum is bearish and that the price might go down. However, this also means that there is room for vast growth in the coming days.

MACD

The MACD line has been below the signal line. However, recent movement suggests that the MACD line has now intersected with the signal line and could potentially go above it. This indicates a potential shift in momentum as buyers might take over again for UNI.

Fear & Greed

The fear and greed indicator suggests that the current emotion is neutral. While fear had been more potent, people started becoming greedy. This neutral emotion might be healthy for UNI.

Uniswap Price Prediction September 2021: Support Needed In The Coming Hours For UNI

Fibonacci

The Fibonacci retracement level from the beginning of the uptrend on July 20th, suggests tath UNI has retraced to the 61.8% level. Since it found support there, the price might soar upwards in the coming weeks.

Uniswap Price Prediction September 2021: Support Needed In The Coming Hours For UNI

In the shorter run, the Fibonacci levels suggest that the price has penetrated the 50% level, even though that is not a natural Fibonacci level. The 61.8% level might be tested in the coming hours or days.

Uniswap Price Prediction September 2021: Support Needed In The Coming Hours For UNI

Price Prediction UNI – September 2021

Based on this technical analysis, we might see UNI go to $29 in the shorter term if it finds support at the projected structures. As for the longer run, UNI might aim for $35. If support is broken, then the trend may reverse.

Latest News for UNI – Affecting Price

The U.S. Securities and Exchange Commission is reportedly investigating Uniswap Labs and the developers behind the decentralized exchange (DEX). It was rumored that SEC is going to limit Decentralized Finance (DeFi), which can ultimately affect the price of UNI and other cryptocurrencies of the field negatively. Whether that occurs can be learned in the coming months.

Also read: Uniswap Price Prediction 2021 and Beyond – Is UNI a Good Investment?

Also read:

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