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Uniswap price analysis: UNI shows dormancy at $7.32 after a brief bullish spell

Uniswap Price analysis
TL;DR Breakdown
  • Uniswap price analysis is bullish today.
  • The strongest resistance is present at $7.8.
  • The most vital support is present at $6.9.

Uniswap price analysis reveals that the market is following a dormant trend below the $7.5 mark and is likely to remain there. The prices opened at $7.41 and have been consolidating below the $6.9 mark since then. The market is currently facing resistance at the $7.88 level and a breakout above this level is required for the bulls to retake control of the market. The immediate support for the market lies at the $6.9 level and a break below this level could result in further losses for the market.

The UNI/USD pair is currently trading at $7.33 and it has increased by 4.83 percent in the last 24 hours. The market is likely to remain in a consolidation phase below $7.5 for the next few days and a breakout above this level is required for further gains. The trading volume for UNI is currently at $274.2 million and the market cap stands at $5.3 billion. The overall market sentiment is bullish and the bulls will be required to push the prices above $7.5 in order to take control of the market completely.

UNI/USD 24-hour price analysis: Latest developments

Uniswap price analysis on the 1-day chart shows the market has formed a minor bearish trend line which is currently acting as a resistance for the market. The prices have been consolidating below this level for the past few days and a breakout above this level is required for the bulls to take control of the market. The MACD indicator is currently in the bearish zone and it is likely that the prices will remain in a consolidation phase below $7.5 over the next few days.

The RSI indicator is currently at 58 percent which indicates that the market is neither overbought nor oversold. The market is likely to remain in a consolidation phase below $7.5 over the next few days.

image 265
UNI/USD 24-hour price chart source: TradingView

The CCI indicator is currently at 58 percent which indicates that the market is neither overbought nor oversold. The market is likely to remain in a consolidation phase below $7.5 for the next few days.

Uniswap price analysis on the daily chart reveals the prices have seen lower volatility as the prices have been stuck in a narrow range below the $7.5 level. The Bollinger bands are relatively narrow and starting to contract, indicating that the market is in a consolidation phase. The prices are currently trading close to the lower band of the Bollinger bands, indicating that the market is likely to see a breakout soon.

UNI/USD price analysis on a 4-hour price chart: Bullish trend line

The 4-hour chart reveals that the market has formed a minor bullish trend line which is currently acting as a support for the market. Over the last four hours, the prices haven’t made any significant move. The bulls have upheld the prices well above the $7.2 level and they are likely to push the prices higher in the near future. The Moving average line is currently above the candlesticks indicating that the market is in a bullish phase.

The RSI indicator is currently at 55 percent which indicates that the market is neither overbought nor oversold. The MACD indicator is currently in the bearish zone but it is likely to make a crossover soon.

image 264
UNI/USD 4-hour price chart source: TradingView

The prices have not also seen a lot of volatility in the last 24 hours as the bands of Bollinger bands are slightly neutral but starting to contract. This indicates that the market is in a consolidation phase and is likely to see a breakout soon. The upper band is currently touching the $7.5 level which is likely to act as a resistance for the market in the near future.

Conclusion

To sum up our today’s Uniswap price analysis, The market is currently in a consolidation phase below $7.5 and a breakout above this level is required for the bulls to take control of the market completely. The market is likely to remain in a sideways trend over the next few days as the prices are expected to fluctuate between $7.2 and $7.5.However, a firm bullish trend is expected in the long term as the market is likely to see a breakout above $7.5 soon.

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.

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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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