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Uniswap price analysis: Price up again as bullish momentum inflates to $18.8

Uniswap price analysis Price up again as bullish momentum inflates to

TL;DR Breakdown

  • Uniswap price analysis is bullish today.
  • Resistance is present at $19.2.
  • The support is present at the $18.6 level.

The Uniswap price analysis is bullish as the coin is rallying today to retest the $19 resistance. Today UNI bulls have covered a range upwards of $18, as the momentum is strong, and the coin has gained significant value today as compared to the overall bearish market. Overall the last week proved profitable for the crypto pair as the price trend mostly remained upwards. The resistance at the $19 level is under test, and bulls may make a breakthrough if bullish momentum continues. In contrast, support is present at the $18.6 level.

UNI/USD 1-day price chart: $19 resistance under test

The 1-day Uniswap price analysis shows that the bulls were quite aggressive at the start of the day and has brought the crypto pair price to a good high level. The UNI/USD is trading hands at $18.8 at the time of writing, gaining 2.8 percent value over the last 24 hours, and the crypto pair also reports an increase in value by more than 23 percent over the course of the last seven days. The trading volume has been better today as it is up by more than 6.38 percent. The market cap also shows an improvement of 3.4 percent.

Uniswap price analysis: Price up again as bullish momentum inflates to $18.8 1
UNI/USD 1-day price chart. Source: TradingView

The volatility is high at the moment as the Bollinger bands are expanding on a larger area, with the upper band at the $19.4 mark representing resistance for the crypto pair and the lower band at the $13 mark. The average of the Bollinger bands is at the $16.2 mark representing support for UNI.

The relative strength index (RSI) is currently trading in the neutral zone at index 55. The RSI has been trading in the upper half of the neutral zone since 22nd December, when the coin, after finding support, started to rally high. However, the RSI curve is upwards, suggesting an increasing bullish presence and an indication for buying UNI assets.

Uniswap price analysis: Recent developments and further technical indications

The 4-hour Uniswap price analysis shows that UNI/USD spiked to $19.45 during the first four hours of today’s session, but selling pressure was obvious at this stage, and the coin is covering range downwards again as the price has come down to $18.8 now.

Uniswap price analysis: Price up again as bullish momentum inflates to $18.8 2
UNI/USD 4-hours price chart. Source: TradingView

The UNI/USD price has come below the resistance level of $19.2, so we expect the bulls to make a comeback and make another attempt at the said resistance for a breakthrough. The Bollinger bands also show an increase in volatility as they are maintaining the gap. The RSI is currently traveling down at index 58, and the RSI indicates the bearish presence and more selling activity going on currently.

Uniswap price analysis: Conclusion

The Uniswap price analysis shows that the UNI is currently correcting, but we expect it to make another attempt at $19.2 shortly, as the bulls showed aggressive momentum at the start of the trading session. Traders can even expect a breakthrough above $19.2 if the bullish momentum returns in the coming hours for which prospects are already there.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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