Uniswap (UNI) Retests Historical Price Level at $30, It May Slide Down

UNI Key Highlights

  • Uniswap faces rejection at the historical price level at $30 as it may slide down
  • UNI reaches an overbought region
  • Sellers are expected at the overbought region

Uniswap (UNI) Current Statistics as It May Slide Down

The current price: $30.04
Market Capitalization:$30,036,821,042
Trading Volume: $30,036,821,042
Major supply zones: $55, $57, $59
Major demand zones: $22, $20, $18

Uniswap (UNI) Long-Term Analysis: Bullish

Uniswap’s (UNI) price is in a smooth uptrend but it may slide down. The altcoin has reached the high of $30 although the market has reachedi the overbought region. Sellers have been attracted at the $30 high. The altcoin is likely to face rejection in the overbought region. The crypto is likely to fall to the low of $27. On the other hand, if the bulls overcome the $30 high, UNI will rally to $38.

This will push the altcoin to the previous highs. However, as the market reaches an overbought condition, the current upward move is doubtful. The altcoin will certainly decline. However, in a strong trending market, the overbought condition may not hold. The current price level will continue to soar on the upside.

UNI/USD – Daily Chart

Uniswap (UNI) Indicator Analysis

Uniswap is at level 71 of the Relative Strength Index period 14. The price indicator is sloping horizontally in the overbought region. The crypto will decline as sellers emerge in the overbought region. The daily stochastic is above the 80% range, indicating that the market is in an overbought condition. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

What Is the Next Direction for Uniswap (UNI)) as It May Slide Down

UNI/USD is facing rejection at the $30 high but it may slide down. In the previous price action, the altcoin declined to the previous low at $27 on August 11. Meanwhile, on August 13 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that UNI will rise but reverse at level 1.272 Fibonacci extension or level $31. From the price action, the coin is facing rejection at the $30 high.

 Uniswap (UNI) Retests Historical Price Level at $30, It May Slide Down

UNI/USD – 4 Hour Chart

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

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