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Uniswap price analysis: UNI/USD rises to $5.31 after a massive bullish run

Uniswap price analysis
TL;DR Breakdown
  • Uniswap price analysis shows a bullish trend
  • UNI/USD prices are facing support at $4.85
  • Uniswap prices are facing resistance at $5.47
image 591
Cryptocurrencies price heatmap, Source: Coin360

Uniswap price analysis shows a bullish trend. UNI/USD prices are facing support at $4.85, and a break below this level could see the price fall to $4.50. On the other hand, a break above the resistance at $5.47 could see the price rise to $6.00.The prices have been moving between a range of $5.47 and $4.85, with a break above the upper limit of the range indicating a bullish trend. On the other hand, a move below the lower limit would indicate a bearish trend.

The digital asset has been on a tear lately as it surged by over 25% in the past week. The digital asset is currently facing some resistance at $5.47, which is the upper limit of the range. A break above this level could see the price target of $6.00.The coin is currently trading at $5.31 after rising from a low of $4.85 yesterday. The market cap for the digital asset stands at $3,814,363,722, and the 24-hour trading volume is $148,698,758.

Uniswap price action on a 1-day price chart: UNI/USD prices trade above $5.31

Uniswap price analysis on 24-hour is bullish as the market trades between two key levels. The digital asset surged higher yesterday as it broke out of the descending triangle pattern.UNI/USD pair is likely to retrace lower as it faces some resistance at $5.47. and support of $4.85. The bullish engulfing pattern indicates that the bulls are in control of the market as the buyers are stepping in after the recent sell-off.

image 589
UNI/USD 1-day price chart, Source: TradingView

The Relative Strength Index is currently above 50, which indicates that the bulls are in control of the market. The Moving Average Convergence Divergence indicator is in the positive territory, which also indicates that the bulls have the upper hand in the market. The prices are currently trading above the 50-day and 200-day simple moving averages, which is a bullish sign.

Uniswap price analysis on a 4-hour time frame: UNI/USD retraces from highs as bulls take a breather

Uniswap price analysis on a 4-hour time frame shows that the digital asset has retraced from the highs as the bulls take a breather. The prices are currently facing resistance at $5.47, and support at $4.85. The digital asset is likely to rise higher as the bulls push the prices towards the $6.00 level.

image 590
UNI/USD 4-hour price chart, Source: TradingView

The MACD line blue is above the signal line, which indicates that the bulls are in control of the market. The RSI is trading at 64, which indicates that the market is neither overbought nor oversold.MA50 and MA200 are both trending upwards, which is a bullish sign.

Uniswap price analysis conclusion

Uniswap price analysis shows a firm upward movement. UNI/USD pair prices are giving hopes of a breakout from a long-term descending trendline. The market is also seeing some good buying support near $4.85, which could lead to further upside potential in the prices. The overall market sentiment is bullish, and Uniswap prices are expected to continue rising as long as buyers maintain control of the market. However, if the selling pressure increases, we could see UNI/USD prices retrace back to the $4.50 level.

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.
John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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