UNI-USDTWith the current crash in the crypto markets, Uniswap too got trapped in the windfall wherein it plunged by ~65% from its trading price of ~$45 on May 3. From its recent low of $13, it has gained more than ~100% and its CMP IS $28.8 at the time of writing, which is still ~36% short of its all-time high.
As per smaller TF’s (4Hr and Daily), UNI has managed to close above its 20 and 50 EMA and these EMA's are likely to act as support for UNI price and act as a cushion whenever the price approaches them.
The immediate resistance is placed at $29. Closing above the level may witness UNI making higher high and higher low formation and on the higher side, it may face resistance at a level of $35 followed by $39.
The support to the lower side is present at $26 while $23 will serve as the next level of support.
