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Uniswap price analysis: UNI/USD rises to $5.89 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 $5.51
  • Uniswap prices are facing resistance at $6.00

Uniswap price analysis today shows that UNI/USD prices are currently trading at $5.89 after a massive bullish run in the market. The price is currently facing resistance at $6.00 but may break past this level soon as the bullish trend continues. Prices are currently being supported at $5.51, and if this support level holds, we may see prices move higher towards $6.00.

The digital asset is currently ranked at 11th position with a total market capitalization of has increased to $4,323,790,587, the 24-hour trading volume is $157,681,845, and the UNI/USD pair has risen by 5.45% in the past 24 hours.

Uniswap price action on a 1-day price chart: UNI/USD prices trade above $5.89 Mark.

On the 1-day price chart, we can see that Uniswap price analysis has been in a strong uptrend for the last few hours as the price is currently at $5.89. Prices have made higher highs and higher lows, indicating the strength of the bulls in the market. The 24-hour RSI indicator is currently at 68, which shows that the market is in bullish territory.

image 380
UNI/USD 1-day price chart, Source: TradingView

The MACD indicator is also in the bullish zone and is rising, indicating that the bulls have the upper hand in the market. Prices are likely to rise in the short term as the bulls remain in control. The MA 50 and the MA200 are both rising, indicating that the bulls have the upper hand in the market.

UNI/USD 4-hour price chart: Recent developments and further technical indications

On the 4-hour chart, we can see that Uniswap price analysis has risen from $5.20 to the current level of $5.89. The digital asset is currently trading at $5.89, and if the bulls can break past the resistance at $6.00, we may see prices move higher towards the next level of resistance at $6.50. On the downside, if prices break below the support at $5.51, we may see prices retrace towards the next level of support at $5.20.

image 381
UNI/USD 4-hour price chart, Source: TradingView

The digital asset is trading well above the MA 50 and the MA 200, which indicates that the market is in bullish territory. The MACD line(blue) in the 4-hour timeframe is above the signal line, indicating that the bulls are in control of the market. The Relative Strength Index(RSI) is moving above the 50 level, which indicates that the market is in bullish territory.

Uniswap price analysis conclusion

Uniswap prices analysis is currently in a strong uptrend as the bulls remain in control of the market. Prices may continue to rise in the short term as the bulls remain in control. However, there is a possibility of a pullback if prices fail to break past the resistance at $6.00. Traders should wait for prices to break out of the resistance before taking any positions.

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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