{"id":160908,"date":"2022-07-23T11:03:08","date_gmt":"2022-07-23T11:03:08","guid":{"rendered":"https:\/\/precoinnews.com\/?p=160908"},"modified":"2022-07-23T11:03:08","modified_gmt":"2022-07-23T11:03:08","slug":"uniswap-reaches-the-overbought-region-as-it-struggles-below-8-00","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/uniswap-reaches-the-overbought-region-as-it-struggles-below-8-00\/","title":{"rendered":"Uniswap Reaches the Overbought Region as It Struggles Below $8.00"},"content":{"rendered":"

Since June 23, the price of Uniswap (UNI) has regained upside momentum as the cryptocurrency trades in the bullish trend zone. Today, UNI is trading at $7.04 at press time. Last week, the uptrend stalled below the $8.00 resistance zone. <\/strong><\/p>\n

The recent high was an overbought area of the market. The cryptocurrency will continue to rise to the high of $10 if the bulls break the resistance at $8.00. Nevertheless, UNI could decline if the altcoin is rejected at the $8.00 resistance level. However, if the altcoin falls back below the moving average line, selling pressure will resume. In the meantime, UNI\/USD is trading at $7.04 at the time of writing. <\/p>\n

Uniswap indicator reading<\/h2>\n

UNI is at the 58 level of the Relative Strength Index for the 14 period. The cryptocurrency is in the bullish trend zone after a minor retracement. The cryptocurrency price is above the moving average lines, indicating a possible upward movement of the cryptocurrency. UNI is above the 80% area of the daily stochastic. This means that the market has reached the overbought region. Sellers are attracted to the overbought region. <\/p>\n

<\/p>\n

Technical indicators:   <\/h3>\n

Major Resistance Levels – $18.00 and $20.00 <\/b><\/p>\n

<\/b><\/p>\n

Major Support Levels – $8.00 and $6.00<\/b><\/p>\n

What is the next direction for Uniswap?<\/h2>\n

The uptrend continues despite the pullback from the resistance zone. A break above the resistance level will signal the resumption of the uptrend. Meanwhile, the July 8 uptrend has a candle body testing the 38.2% Fibonacci retracement level. The retracement suggests that UNI will rise to the 2.618 Fibonacci Extension level or $8.59.<\/p>\n

<\/p>\n

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.<\/span><\/i><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Since June 23, the price of Uniswap<\/p>\n","protected":false},"author":3,"featured_media":160907,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nUniswap Reaches the Overbought Region as It Struggles Below $8.00 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/uniswap-reaches-the-overbought-region-as-it-struggles-below-8-00\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uniswap Reaches the Overbought Region as It Struggles Below $8.00 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Since June 23, the price of Uniswap\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/uniswap-reaches-the-overbought-region-as-it-struggles-below-8-00\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-23T11:03:08+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2022\/07\/Uniswap-Reaches-the-Overbought-Region-as-It-Struggles-Below-8.00.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/uniswap-reaches-the-overbought-region-as-it-struggles-below-8-00\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/uniswap-reaches-the-overbought-region-as-it-struggles-below-8-00\/\",\"name\":\"Uniswap Reaches the Overbought Region as It Struggles Below $8.00 - 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