Ethereum (ETH), Uniswap (UNI) Price Analysis: July 5, 2021

Republished By Plato

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Ethereum (ETH) price sustains a gradual uptrend after defending support at $2,000.
Uniswap (UNI) bulls fight to stay above $20 while keeping their eyes on the prize at $30.

Ethereum (ETH) Price Analysis

Ethereum price managed to hold above $2,000 toward the end of last week. The optimistic outlook gained momentum as buyers broke the resistance at $2,300. However, the following barrier at $2,400 was a hard nut to crack.

Meanwhile, Ether trades at $2,270 in the wake of losing support at the 200 Simple Moving Average (SMA) and $2,300. Nonetheless, bulls focus on securing higher support, preferably at $2,200.

The Moving Average Convergence Divergence (MACD) has a slightly bullish outlook based on the four-hour time frame. Buyers will remain in control as long the 12-day moving average sustains the position above the 26-day moving ave

On the upside, the stubborn resistance at $2,400 must come down in the near-term to validate the uptrend aiming for $2,800. Note that losing support at $2,200 could trigger massive losses under $2,000.

Ethereum 4 Hr Chart

Uniswap Price Analysis

Uniswap, like Ethrreum, sustained an uptrend last week as bulls eyed $30. A break above $20 validates the optimistic outlook, but the bulls lost steam on hitting the 200 SMA.

The decentralized finance (Defi) token trades at $20 amid an effort by the bulls to keep the price afloat at $20. If the MAC D sustains the bullish outlook, recovery toward $30 will resume. However, there is a big chance that losses will stretch under $20.

UNI/USD four-hour chart

On the downside, support is expected at $18, as highlighted by the 100 SMA. The 50 SMA is in line to prevent losses from extending toward the primary support at $18.

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author

John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige