TL; DR Breakdown
- UNI/USD saw a bullish momentum towards the end of yesterday’s Uniswap price analysis chart.
- The circulating supply of Uniswap is at $611.6 million.
- The BoP indicator is at 0.72, and it points towards the 1, meaning that the bull pressure is so high and has overwhelmed the bears in the market.
Uniswap Price Analysis: General price overview
Uniswap saw a bullish momentum towards the end of yesterday’s price analysis chart. Today, the bull dominance was cut short by sellers who came into the market aiming to overturn the prevailing bullish trend. The pressure from mighty sellers caused the price to record a sharp decline.
UNI/USD has been trading in a bear market trend, forming several descending triangles until it faced solid support from the bulls at $26.5. The bull pressure overwhelmed the seller’s ability to break through the support. Hence it made the price of the coin surge in a rising triangle trend to the intraday high of $32.34.
The Moving Average lies slightly above UNI price, indicating a possible uptrend. The bull upsurge momentum will not be stopping soon. The UNI/USD pair prepares for the weekend while trading in a bullish trend.
Uniswap price movement in the last 24 hours: Uniswap spikes to $30
The Relative strength index has been in the overbought region; this should tell you that the overall daily price analysis chart is bullish. The buying pressure experienced at 06:00 AM made the price spike to $32.4, the highest of the day.
The circulating supply of Uniswap is at $611.6 million. Meanwhile, the total market capitalization is by 0.49 percent, and it stands at $18 billion. UNI/USD trading volumes have undergone a massive decline of more than 30 percent, according to data from the Coinmarketcap.
Uniswap 4-hour price movement: Indicators signals bull run
Technicals indicate the current bull market will continue into the weekend, and there is a possibility of Uniswap reaching $40 by the end of the week.
The BoP indicator is at 0.72, and it points towards the 1, meaning that the bull pressure is so high and has overwhelmed the bears in the market.
On the four-hour price analysis chart, UNI/USD market has been trading in bullish momentum, and it strives to break the intraday high of $32.4.
UNI/USD 1-hour chart: Bulls continue preparing for the weekend
A look at our one-hour UNI/USD price analysis chart shows the overall chart trades in two bull patterns: cup and handle patterns and head and shoulder patterns.
On the 1-hour price analysis chart, the MACD line had crossed over the red line signaling a possible bull run that will continue throughout the remaining part of the week. Also, on the chart, the green bars are longer than the red ones indicating bullish momentum.
Uniswap Price Analysis: Conclusion
On the daily price analysis chart, Uniswap has been trading positively. The UNI/USD price is set to hike to $40 by the end of the week, that is, if the bulls continue dominating the market. Uniswap price is above the moving average, meaning; the bulls have significant strength.
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