Uniswap price analysis: UNI/USD gains bullish momentum at $5.41

Uniswap price analysis
TL;DR Breakdown
  • Uniswap price analysis shows a bullish trend
  • UNI/USD prices have support at $5.04
  • Uniswap prices are facing resistance at $5.47

Uniswap price analysis shows a complete bullish trend in the market as the prices went up by 3.07 in the last 24 hours. The coin is trading at $5.41 and is facing immediate resistance at $5.47. On the other hand, it has strong support near $5.04. Uniswap price analysis shows that if the bulls remain in control, the prices may see an upsurge and touch $5.60 levels. On the other hand, a bearish crossover may lead to a drop in prices and it may find support near $4.80 levels.

image 55
Cryptocurrencies price heatmap, Source: Coin 360

The UNI/USD pair price has increased by 3.07 percent in the last 24 hours and currently, it is trading at $5.41. The market capitalization of the coin has also increased to $3,972,059,387 and the 24-hour volume traded in the market is $136,376,426.

Uniswap price action on a 1-day price chart: UNI/USD prices trade above $5.41

The daily price chart for Uniswap price analysis shows that the prices have formed higher highs and higher lows to indicate a bullish trend in the market. 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 $5.04.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 57
UNI/USD 1-day price chart, Source: TradingView

Furthermore, the moving averages are also indicating a bullish crossover as the 50-day SMA line (blue) has crossed above the 20-day SMA line (red). The RSI indicator is currently trading at 70 levels, with no major overbought or oversold conditions. The MACD indicator is also indicating a bullish trend as the signal line (blue) has crossed above the histogram.

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

image 56
UNI/USD 4-hour price chart, Source: TradingView

The 4-hour price chart for UNI/USD shows indicates that the prices have retraced lower from the recent highs as the bulls take a breather. The prices are currently trading near the 20-day SMA line and the RSI indicator is also trading close to the overbought levels. However, there is no bearish crossover yet and the prices may continue to move higher. The MACD indicator is moving above the signal line and the histogram, which is a bullish sign.

Uniswap price analysis conclusion

To conclude, Uniswap price analysis shows that the prices are likely to retrace lower in the short term but the bulls are expected to remain in control. The UNI/USD pair has gained bullish momentum and is currently trading at $5.41. The UNI/USD pair may retrace lower from the current levels but it is likely to find support near the $5.04 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.
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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