Uniswap price analysis: UNI/USD set to break above $20 soon

Tezos Price Analysis

TL;DR Breakdown

  • Uniswap price analysis is bullish today.
  • Resistance is present at $19.2.
  • UNI/USD is currently trading at $16.90.

The Uniswap price analysis is bullish as the coin is rising to test the $19 resistance for the second time. UNI bulls have covered a range of about $18 today, demonstrating tremendous momentum and resulting in significant value gains versus the overall bearish market. The crypto pair’s price trend was mostly maintained upwards throughout the last week, as the value of this token has now surpassed its previous Friday’s high.

Uniswap, like every other altcoin in the market, is still affected by the bearish market pressure that is currently squeezing the entire crypto space. The $16.1 level represents a massive psychological barrier that Uniswap bulls need to overcome in order to be able to climb higher and approach the $20 resistance area. The volatility of this altcoin is higher than usual, while its price movements are more abrupt too.

The Relative Strength Index (RSI) indicator shows 50, which signals that the given pair of currencies has achieved a neutral balance between bulls and bears, with neither one having effective control over price. The Ichimoku Cloud on the chart below indicates Uniswap’s recent rise, both long-term and short-term. The best strategy for UNI traders would be to accumulate their positions close to support levels at around $16.9 before going all-in when a breakout occurs.

It can be anticipated that this altcoin will most likely continue to surge higher before succumbing to market pressure and dropping towards its previous resistance levels. The fact that UNI/USD has climbed above the 50-day SMA indicates that this asset will remain bullish in the long run as well.

Uniswap price analysis: Recent developments and further technical indications

The 4-hour Uniswap price analysis shows that UNI/USD rose to $19.45 during the first four hours of today’s session, but selling pressure was evident at this stage, and the coin is now covering range downwards it has fallen to $16.95. The 20-day EMA has now become resistance for this crypto asset, as bulls will need to overcome it to generate further upside momentum.

Uniswap price analysis: UNI/USD set to break above $20 soon 1
UNI/USD 4-hours price chart. Source: TradingView

The UNI/USD pair has fallen below the resistance level of $19.2, so we expect the bulls to make a comeback and attempt once more for a breakthrough at that point. The Bollinger bands have grown in volatility as the gap is being maintained. The RSI is presently migrating down at index number 58, which indicates a bearish sentiment and greater selling activity as we speak.

Uniswap price analysis: Conclusion

The UNI is correcting at the moment, according to the Uniswap price analysis, having fallen from a high of about $19.45 to around $16.99 recently. We expect this coin to continue rising soon, as the chart indicators are positive and favor this asset’s bull run.

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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