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Uniswap price analysis: UNI prices recover from the $9.0 support level, bullish rally incoming?

uniswap price analysis downtre

TL;DR Breakdown

  • Uniswap price analysis is bullish
  • UNI/USD pair is facing resistance at the $9.5 level
  • Uniswap prices have set firm support at the $9.0 mark
Uniswap price analysis: UNI prices recover from the $9.0 support level, bullish rally incoming? 1
Cryptocurrencies prices heatmap, source: Coin360

The Uniswap price analysis reveals the bulls come back from the $9.0 support level as the market gears up for a fresh rally. The UNI/USD pair is presently trading around the $9.30 level and may soon hit the resistance at $9.5.

The cryptocurrency market is seeing some buying interest return after a brief period of consolidation. Uniswap (UNI) prices are no different as the market sets its sights on a move higher. The UNI/USD pair is currently trading at the $9.30 level and looks set to test the resistance at $9.5.The $9.0 support level has held firm over the past few sessions and has allowed the bulls to make a comeback.

Uniswap price movement in the last 24 hours: UNI/USD prices prepare for a move higher

The Uniswap price is up by 0.79 percent in the last 24 hours and is presently trading at the $9.30 level. The market has set firm support at the $9.0 level and looks poised for a move higher in the near term. The market may soon test the resistance at $9.5 as the bulls look to continue their upward momentum. The current market capitalization for UNI prices stands at over 6.4 billion while the coin trades in a range of $8.96 and $9.48.The trading volume is at $178 million, and the UNI/USD pair is up by around 2 percent in the last 7 days.

Uniswap price analysis: UNI prices recover from the $9.0 support level, bullish rally incoming? 2
UNI/USD 1-day price chart, source: TradingView

Uniswap prices are escalating around the $9.30 level as the market sets its sights on a move higher. The UNI/USD pair market has shifted to the bullish market sentiment as the moving averages start to turn higher. The technical indicators on the 1-day price chart sight a mixed picture. The MACD indicator is presently in the bullish territory, but the RSI indicator is just below the 60 levels, which shows some indecision in the market. The Bollinger bands are however neither expanding nor contracting, which shows a lack of market momentum at the moment.

Uniswap price analysis on a 4-hour price chart: UNI/USD prices form a bullish pattern

The 4-hour price chart for the UNI/USD pair shows that the market is in a strong uptrend as the prices move above the moving averages. The 50 MA (yellow) and the 100 MA (red) are both sloping higher, which indicates that the bulls are in control of the market. The RSI indicator is presently at the 63 levels, which shows that there is some room for a further move higher. The MACD indicator is also in the bullish territory as the prices look to continue their upward momentum.

Uniswap price analysis: UNI prices recover from the $9.0 support level, bullish rally incoming? 3
UNI/USD 4-hour price chart, source: TradingView

The current market sentiment is expected to prevail as some buying pressure has been witnessed over the last few hours. However, bears are trying to capture the market as indicated by the selling pressure around the $9.30 level. The UNI/USD pair may face some selling pressure as it looks to test the resistance at $9.5 in the near term. Nevertheless, if the bulls can push prices above this level, we may see a move higher towards the $10.0 level.

Uniswap price analysis conclusion

The Uniswap price analysis concludes that a move above the $9.5 level would confirm a further rally towards the $10.0 level. The market may see some consolidation around the current levels in the near term as the bulls and the bears battle for control. However, a move above the $9.5 level would confirm a further rally towards the $10.0 level. The market may see some consolidation around the current levels in the near term as the bulls and the bears battle for control.

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.
joel

joel

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

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