Uni Price analysis 17 March

[Hometown]

The long tail on Uniswap’s (UNI) March 16 candlestick shows the bulls are buying the dips to the 20-day EMA ($28.91). However, the long wick on today’s candlestick shows the bears are selling at higher levels. This suggests a tussle between the bulls and the bears at the 20-day EMA.


UNI/USDT daily chart. Source: TradingView
The negative divergence on the RSI shows the bullish momentum has weakened. Traders may aggressively book profits if the price sustains below the 20-day EMA. Such a move could pull the price down to the 50-day SMA ($24) and then to $20.

This bearish view will invalidate if the UNI/USD pair rebounds off the 20-day EMA and rises above the all-time high at $34.92. Such a move will indicate the possible resumption of the uptrend.

[krypto4uvak]

Yes, this is in principle a normal phenomenon, the main thing here for me is that the price does not go down, since I recently purchased their coin and am expecting a big profit.