- Uniswap price analysis is bullish
- UNI/USD prices are trading above the support level of $10.0
- Uniswap price faces strong rejection at $10.53
Recent Uniswap price analysis reveals that prices have been declining after hitting their all-time high of $24.07 on February 20. The latest recovery has pushed prices above the $10.0 support level, with holders eyeing a rally towards the resistance area between $11 and $12. However, the selling pressure persists around the current levels, with prices facing rejection at $10.53.
Uniswap trading volume declines in the same direction as price. Uniswap price at the moment of writing is $10.20, which is an increase of 1.16 percent from its previous price. Uniswap price movement over the last 24 hours shows that UNI prices have tested $9.96 as the lowest price, while the highest price tested was $10.53. Nonetheless, the overall devaluation of the Uniswap coin has seen the token move to 24th in the overall digital assets rankings.
Uniswap price action on a 1-day price chart: UNI/USD prices look to move above $11.0
Looking at the 1-day price chart of UNI/USD, we can see that prices have traded in a descending channel since February 20. However, the recent uptrend has seen prices break out of this pattern as prices rally towards $11. The breakout above the descending trendline is a bullish sign that suggests further upside in prices. The immediate resistance area is between $11 and $12, while support is at the $10.0 level.
The MACD indicator on the 1-day chart shows that prices are slowly recovering from the recent selloff as the MACD line (blue) crossed the signal line (red). The RSI indicator currently trades in the neutral zone at 54.38. The moving averages are flat, with the 50-day MA (green) trading below the 200-day MA (blue).
Uniswap price action on a 4-hour price chart: UNI prices face rejection at $10.53
On the 4-hour chart, we can see that UNI currently trades above the support level at $10.0. The recent uptrend has seen prices rally towards the resistance area between $10.50 and $11.00, where prices have faced rejection. The immediate support area is found at $10.0, while resistance is at the $11.0 level.
The RSI line currently sits in the overbought region as it currently trades at 65.48. The MACD line is above the signal line, which is a bullish sign. Prices are also trading above the moving averages, with the 50-day MA (green) trading just below the 200-day MA (blue).
Uniswap price analysis conclusion
Uniswap price analysis reveals that UNI is trading in a bullish trend as prices increase towards $11.0. The market is in the middle of a selling pressure around the $10.50 level, but the recent breakout of the descending trendline is a bullish sign that suggests further upside in prices.
To conclude, Uniswap price analysis suggests that UNI is in a bullish trend as prices look to recover from their recent selloff. Prices face some selling pressure at $10.53 but is expected to continue towards the $11 and $12 resistance levels.
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