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Uniswap price analysis: UNI/USD is in a bullish momentum and could break above the intraday highs

Uniswap price analysis
TL;DR Breakdown
  • Uniswap price analysis shows a bullish trend
  • UNI/USD prices are facing support at $5.15
  • Uniswap prices are facing resistance at $5.43

Uniswap price analysis shows that the UNI/USD pair has regained bullish momentum on the 4-hour chart. Prices are trading above the moving averages but below the upper Bollinger Band. The Relative Strength Index is rising towards the overbought levels, indicating that prices may continue to rise in the near term. There is a chance of a small pullback towards the $5.15 support level before the bulls take control again.

The Uniswap prices are currently trading at $5.35, which is 2.4% higher than the price 24 hours ago. The UNI/USD pair has been in a strong uptrend since March 18, when prices surged from below $4 to highs above $5.50. Prices have consolidated near the $5.30 level over the past few days as bulls and bears battle for control of the market.

On the 4-hour chart, the UNI/USD pair has formed a bullish trend line with support near the $5.20 level. Prices are currently trading above the 50 simple moving average but below the upper Bollinger Band. The Relative Strength Index is rising towards the overbought levels, indicating that prices may continue to rise in the near term.

Therefore, the UNI/USD pair may continue to rise in the near term as bulls take control of the market. Prices may face some resistance near the $5.43 level. A break above this level could open the door for a move towards the $5.50 and $5.60 levels in the coming days.

On the downside, support is seen at the $5.15 level. A break below this level could invalidate the bullish trend line and push prices back towards the $5 level in the near term.

Uniswap price action on a 1-day price chart: UNI/USD prices trade above $5.35

Uniswap price action on a 1-day price chart on Coinbase shows that the UNI/USD pair has regained bullish momentum and is trading well above the $5.35 level. The next major resistance area is seen near the $5.43 level or the 100 simple moving average (4-hour). A successful close above this level could push prices towards the $5.50 and $5.60 levels in the near term.

image 409UNI/USD 1-day price chart, source: TradingView

The Moving average convergence divergence (MACD) on the 1-day time frame shows that the UNI/USD pair is currently in a bullish trend as bulls take control of the market.

On the 4-hour Uniswap price analysis chart, the UNI/USD pair has formed a bullish trend line with support near the $5.20 level. Prices are currently trading above the 50 simple moving average but below the upper Bollinger Band. The Relative Strength Index is rising towards the overbought levels, indicating that prices may continue to rise in the near term.

Therefore, the UNI/USD pair may continue to rise in the near term as bulls take control of the market. Prices may face some resistance near the $5.43 level. A break above this level could open the door for a move towards the $5.50 and $5.60 levels in the coming days.

It tested the 23.6% Fib retracement level of the recent wave from the $5.10 swing low to $5.43 high. A low was formed near $5.25 and the price is currently correcting higher. There was a break above the $5.30 level, but the bulls failed to push the price above $5.35.

The next key resistance area is near the $5.43 level or the 100 simple moving average (4-hour). A successful close above the 50% Fib retracement level of the recent wave from the $5.10 swing low to $5.

Uniswap price analysis on a 4-hour price chart: UNI/USD set to break out higher

The Uniswap price analysis traded as high as $5.43 and recently started a downside correction. It broke the key $5.35 support area to move into a bearish zone. The price even spiked below the $5.30 level, but it failed to stay below the 100 simple moving average.

image 410

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

The UNI/USD pair may continue to rise in the near term as bulls take control of the market. Prices may face some resistance near the $5.43 level. A break above this level could open the door for a move towards the $5.50 and $5.60 levels in the coming days.

On the downside, there is a key bullish trend line forming with support near the $5.25 level on the same chart. The next major support area is near the $5.15 level or the recent lows.

Therefore, a downside correction toward the $5.30 level is likely in the near term as long as prices are trading below $5.43 and 100 simple moving average (4-hour). Below this, Uniswap prices could decline towards key supports at $5.25 and $pside Risks in UNI/USD

The UNI/USD pair is currently trading near a major resistance area near the $5.43 level. On the upside, there is a key bearish trend line forming with resistance near the $5.50 level on the 4-hour chart.

Therefore, if the price breaks the $5.43 and $5.50 resistance levels, it could start a strong increase in the near term. The next key resistances are seen near $5.60 and $5.70 levels, above which prices are likely to accelerate higher towards the $6.00 level in the coming days.

Uniswap price analysis conclusion

Uniswap price analysis concludes that the market is in a bullish trend and is trading above the $5.35 level. The next level of resistance is seen at the $5.43 level. Above this, resistance is seen at the $5.50 level. The market looks poised to move higher in the near future as the bulls gain strength. However, a move above the $5.50 level is needed to confirm the bullish trend.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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