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Uniswap price analysis: UNI/USD trade in a sideways direction with a slight bullish bias

Uniswap price analysis
TL;DR Breakdown
  • Uniswap price analysis shows a bullish trend
  • UNI/USD prices have support at $8.93
  • Uniswap prices are facing resistance at $9.56

Uniswap price analysis shows a complete bullish trend in the market as the prices went up by 0.20 percent in the last 24 hours. The coin is trading at $9.08 and is facing immediate resistance at $9.56. On the other hand, it has strong support near $8.93.

Uniswap price analysis shows that if the bulls remain in control, the prices may see an upsurge and touch $10 levels. On the other hand, a bearish crossover may lead to a drop in prices and it may find support near $7 levels. The market cap of the coin is $1.67 billion and the 24-hour volume traded is $146 million.

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Uniswap price action on a 1-day price chart: UNI/USD prices trade above $9.08

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 $9.56. and support of $8.93.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 122
UNI/USD 1-day price chart, Source: TradingView

The digital asset is currently trading above the critical exponential moving averages (EMAs) such as the 50 EMA line and the 200 EMA line. The RSI indicator is currently trading in the overbought region, indicating that the prices may witness a minor correction soon. However, if the bulls remain in control, we may see an upsurge in prices. The MACD indicator shows that the prices are currently trading in bullish territory. Overall, the market sentiment is positive and we may see an upsurge in prices.

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

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 50 EMA line and the 200 EMA line. as the 50 EMA is acting as a support for the prices and the 200 EMA is likely to act as a resistance.

image 123
UNI/USD 4-hour price chart, Source: TradingView

The RSI indicator is currently trading at 63 levels, indicating that the prices may see a minor correction soon. The Moving average convergence divergence (MACD) indicator shows that the prices are currently trading at bullish levels.

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 $9.08. The UNI/USD pair may retrace lower from the current levels but it is likely to find support near the $8.93 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.
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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