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Uniswap price analysis: UNI/USD bullish for the next 24 hours

uniswap price analysis
TL;DR Breakdown
  • Uniswap price analysis shows a bullish trend
  • UNI/USD prices are facing support at $5.97
  • Uniswap prices are facing resistance at $6.38

Uniswap price analysis shows a complete bullish trend in the market as the prices went up by 1.08 percent in the last 24 hours. The coin is trading at $6.18 and is facing immediate resistance at $6.38. On the other hand, it has strong support near $5.97. The Uniswap price analysis shows that if the bulls remain in control, the prices may see an upsurge and touch $7 levels. On the other hand, a bearish crossover may lead to a drop in prices and it may find support near $5.50 levels.

The UNI/USD pair price has increased in the last 24 hours and currently, it is trading at $6.18. The market capitalization of the coin has also decreased to $4,536,163,754 and the 24-hour volume traded in the market is $175 million.

Uniswap price action on a 1-day price chart: UNI/USD forms a bullish engulfing pattern

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. UNI/USD pair is likely to retrace lower as it faces some resistance at $6.38. and support of $5.97.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 98
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: Bears emerge as UNI/USD prices trade near $6.18

The 4-hour price chart for Uniswap analysis shows that the digital asset is trading in a bearish trend as it formed lower highs and lower lows. The bears have emerged as the prices retrace lower after the recent upsurge. The buyers on a 4-hour time frame are likely to face some resistance near $6.38 and support near $5.97.

image 99
UNI/USD 4-hour price chart, Source: TradingView

The RSI indicator is currently trading at 54 levels, with no major overbought or oversold conditions. The MACD indicator is also indicating a bearish trend as the signal line (blue) has crossed below the histogram. The 50-day SMA line (blue) is moving above the 20-day SMA line (red), which is a bullish sign.

Uniswap price analysis conclusion

To conclude, Uniswap price analysis shows that the prices are trading at crucial levels as the one-day chart UNI/USD is indicating a bullish trend, while the 4-hour time frame is showing a bearish trend. The digital asset may see some selling pressure near $6.38 levels and the buyers may emerge near $5.97 levels. The Uniswap price analysis shows that the bears will remain in control.

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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