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Uniswap price analysis: UNI prices trade sideways as bulls try to hold the $8.20 handle

uniswap price analysis downtre 768x384 1

TL;DR Breakdown

  • Uniswap price analysis is bullish
  • UNI prices are currently trading above the $8.2 level
  • Support for UNI/USD prices is present at $8.0
image 1 137
Cryptocurrencies prices heatmap, source: Coin360

The Uniswap price analysis reveals that Uniswap prices have been trading sideways over the past few days as bulls move above $8.2. The token has seen some selling pressure around this level, but the buyers have so far been able to hold the fort. UNI prices are currently trading at $8.27 and have increased by 0.18 percent in the last 24 hours.

There has been strong support at $8.0 and this has led to a surge above $8.30 in recent days. We have seen some consolidation around these levels, but buyers seem determined to push upon these levels as we move into the weekend. The next level of resistance is at $8.50 and above this, Uniswap prices could target the $9.00 level in the coming days. However, we could see some profit-taking around these levels as traders take profits from their recent gains. Below $8.30, support is at $8.20 and below this, we could see prices trade sideways as the bulls try to hold the $8.00 handle once again.

Uniswap price movement in the last 24 hours: Bulls win the battle as Uniswap prices trade sideways

Uniswap price analysis in the last 24 hours shows Uniswap is currently trading at $8.27 as of press time and has seen a slight recovery from its weekly low of $7.91. The market had initially started to show some signs of weakness around the middle of last week after prices could not manage to sustain the $8.00 handle on several occasions. UNI then went on to break below this level and reach lows of around $7.93, before managing a small recovery into the weekend. As we move into the weekend, Uniswap prices will see some buying pressure around this level.

image 1 134
UNI/USD 1-day price chart, source: TradingView

The technical indicator on the 1-day time frame indicates a slight bearish bias in the market as the RSI moves below the 50 levels. The MACD is currently flat and there is no major change in direction on the charts. However, we could see some buying pressure around these levels as we move into the weekend. The Bollinger bands are also closing in on each other and suggest that the market could see some volatility around these levels as traders take positions. So, it seems like the bulls have won this battle against the bears. The increase in prices has led to some consolidation for Uniswap prices as we head into the weekend.

Uniswap price action on a 4-hour price chart: UNI/USD prices hold above $8.2 levels

Uniswap price analysis over the past few hours has been bullish as prices move towards the $8.30 level once again. The market had seen some selling pressure around this level, but the bulls have so far managed to defend these levels and push prices higher in recent hours. UNI prices are currently trading at $8.27 and have increased by 0.18 percent in the last 24 hours.

image 1 136
UNI/USD 4-hour price chart, source: TradingView

The technical indicators on the 4-hour time frame are currently showing some weakness as the RSI moves below the 50 levels and the MACD line starts to diverge away from the signal line. However, we could see a move higher in prices if the bulls can defend the $8.20 level in the coming hours. The next level of resistance is at $8.50 and buyers will need to push prices above this level to target further gains in the market.

On the downside, support is at $8.20 and below this, we could see prices move towards the $8.00 handle once again. However, a break below this level could see prices fall towards the $7.90 level in the near term.

Uniswap price analysis conclusion

Uniswap price analysis indicates a bullish market for today as prices continue to trade sideways. The market will see some buying pressure in the near term and traders should keep a close eye on this level in the coming days. This could lead to a breakout from recent highs as prices target $8.50 and above this, we could see prices move towards the $9.00 handle over the next week.

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.
Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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