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Uniswap price analysis: UNI prices consolidate around $4.8 as buyers push for a breakout

Uniswa price analysis
TL;DR Breakdown
  • Uniswap price analysis shows a bullish market trend
  • UNI prices have sought support at $4.5
  • Resistance for UNI prices is seen at $5

Uniswap price analysis indicates UNI prices are currently trading in a critical juncture as bulls try to push prices above the $4.8 level while bears defend the $4.5 support level. The market trend for UNI prices is currently bullish as bulls attempt to break through the $4.8 resistance level. If successful, prices could target the $5 level. However, if bears defend the $4.5 support level, prices could retrace back to $4.3.

UNI prices have been on a tear over the past few weeks, gaining nearly 50% since mid-March. The rally has seen UNI prices consolidate around the $4.8-level as buyers look to push for a breakout. The trading volume for UNI is $114,079,996.96 while the market cap is currently at $3,469,497,716.77.UNI is currently ranked position 22 overall as it dominates 0.29 percent of the entire cryptocurrency market.

Uniswap price action on a daily chart: Bulls stumble as UNI prices fail to break out above $4.8

Uniswap price analysis on the daily chart we can see that UNI/USD, prices have been consolidating around the $4.8-level over the past few days as buyers look to push for a breakout. However, the rally has stalled as bulls have so far failed to break through the $4.8 resistance level. Prices have pulled back to around the $4.6-level as the market awaits further direction. The MACD line is currently above the signal line, indicating a bullish market trend. However, the RSI is currently at 55.7 which indicates that the market is neither overbought nor oversold.

image 558
UNI/USD 1-day price chart, source: TradingView

The market volatility for UNI is currently low as the Bollinger bands are starting to close, which is relatively low compared to other cryptocurrencies. The market is currently in a bullish trend as the 50-day moving average crosses above the 200-day moving average signaling that prices could continue to move higher in the near term. However, the RSI indicator on the daily chart is currently at 62 which indicates that UNI prices are currently in the overbought territory and a correction could occur in the near term.

Uniswap price analysis on a 4-hour price chart: Buyers defend the $4.5 support level

Uniswap price analysis on the 4-hour chart we can see that UNI prices have been consolidating around the $4.8 resistance level as buyers look to push for a breakout while bulls defend the $4.5 support level. The MACD line is currently above the signal line, indicating a bullish market trend. However, the RSI is currently at 53.6 which indicates that the market is neither overbought nor oversold.

image 559
UNI/USD 4-hour price chart, source: TradingView

The market volatility for UNI has been relatively low as the Bollinger bands are starting to close. The moving averages on the 4-hour chart are currently bullish as the 50-day moving average crosses above the 200-day moving average, signaling that prices could continue to move higher in the near term. However, the RSI line is currently residing in the overbought region at 61.8 and a correction to the downside could occur in the near term.

Uniswap price analysis conclusion

Uniswap price analysis concludes that UNI prices are currently trading in a critical juncture as bulls try to push prices above the $4.8 level while bears defend the $4.5 support level. The market trend for UNI prices is currently bullish as bulls attempt to break through the $4.8 resistance level. If successful, prices could target the $5 level. However, if bears defend the $4.5 support level, prices could retrace back to $4.3.

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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