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Uniswap price analysis: UNI recovers above $8.2. Will the bullish momentum sustain?

Uniswap price analysis UNI recovers above Will the bullish momentum sustain

TL;DR Breakdown

  • Uniswap price analysis is bullish today.
  • Resistance for UNI/USD is present at $8.9.
  • The support is present at the $7.9 level.

The Uniswap price analysis for today is bullish. The UNI/USD was on a bearish slide as bears decreased the price from $10.5 to $8.2 during the last week, as the trend remained downwards for the entire week. Today UNI found support and is covering range upwards, and the price has been recovered up to $8.52, which is a good achievement in a current bearish market.

The next resistance for UNI is present at $8.9, where selling pressure is expected to kick in again. The trading volume has increased by 21 percent over the last day, which has resulted in price recovery and an increase in market cap by 3.7 percent.

UNI/USD 1-day price chart: Can bulls defy greater bearish pressure

The 24 hours Uniswap price analysis shows an increase in price today after a continuous week of bearish practice. Overall, UNI is at a loss of 17.8 percent over the entire last week. Generally, the entire month proved unfruitful for the crypto asset as it saw a substantial loss with very few increments in coin value. However, today’s trend is upwards, and the coin reports an increase of 3.4 percent in price as the price has recovered to $8.5 today.

Uniswap price analysis: UNI recovers above $8.2. Will the bullish momentum sustain? 1
UNI/USD 1-day price chart. Source: TradingView

The volatility has been high, and the Bollinger bands are expanded, with the upper band present at the $10.7 mark and the lower band present at the $7.9 mark. The average of Bollinger bands is at the $9.32 level. The moving average (MA) is at the $9.28 mark below the SMA 50. The relative strength index (RSI) is trading in the lower half of the neutral zone at index 38 but is now on an upward trend.

Uniswap price analysis: Recent developments and further technical indications

The 4-hour Uniswap price analysis shows bulls are in power from the start of the day, but interference from the bearish side is also observed, as bulls and bears have been changing positions throughout the day. The last four hours also show bearish activity as the price has come down to $8.5 just recently. However, the decrease is minimal.

Uniswap price analysis: UNI recovers above $8.2. Will the bullish momentum sustain? 2
UNI/USD 4-hours price chart. Source: TradingView

The volatility is on the higher side. The Bollinger bands’ values are as follows; the upper band is at the $9.1 mark, and the lower band is at the $8 mark. Bollinger bands are making an average at the $8.59 mark above the price level. The moving average is trading at $8.42 below the price level, and the relative strength index (RSI) is also hovering at index 44 though still in the neutral range.

Uniswap price analysis: Conclusion

The 1-day and 4-hours Uniswap price analysis is indicating bullish signs for the cryptocurrency, as overall, the crypto market is recovering today so is UNI/USD. We expect UNI to continue upside for the next 12 hours to retest the $8.9 resistance.

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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