Uniswap price analysis: UNI gets support at $5.62 after a decline

Uniswap price analysis: UNI gets support at $5.62 after a decline

The Uniswap price analysis shows an increasing trend for the market today, as the coin has started recovery. The bulls have succeeded in obtaining the leading position and gaining stability, as the market sentiment towards UNI has turned positive. Today, a slight increase in coin value was detected as the price recovered up to $5.66 after the cryptocurrency got support.

UNI/USD 1-day price chart: A slow-paced bullish momentum follows

The one-day Uniswap price analysis predicts a weak bullish trend for the day, as the bulls have been ruling the price chart today. The coin value is growing slowly as the market has been consistently following an increasing trend. The UNI/USD value is now standing at $5.66 at the time of writing, and a further increase is possible if the bullish trend aggravates further.

The coin is still at a loss of 3.35 percent value for the last 24 hours, but on the other hand, the cryptocurrency is reporting an increase in value of 5.84 percent for the past week, despite the fact that the trend has remained bearish for the last two days. The moving average (MA) value is at the $5.59 level for now which is below the current price level.

UNI/USD 1-day price chart. Source: TradingView

The volatility is comparatively mild. If we talk about the Bollinger bands indicator, the upper band is standing at $6.75 edge representing the strongest resistance, whereas the lower band is present at $5.13 point representing the strongest support for the crypto pair. The Relative Strength Index (RSI) has also got support because of the recent bullish move, as the curve of the indicator has flattened at index 42 after going through a decline previously.

Uniswap price analysis: Recent developments and further technical indications

The 4-hour Uniswap price analysis is going in favor of bulls, as the price following a bullish trend in the past few hours, which will help in maintaining the upwards price movement on the daily charts and diverting the trend upwards on the 4-hour chart, as the bulls have successfully overpowered the bears. The bullish momentum was quite weak at the start of the trading session followed by a correction, but Currently, the cryptocurrency value is standing at $5.67 after the recent upgrade, and it is expected to heighten further in the approaching hours. The moving average value is still higher than the price value, i.e., $5.77.

UNI/USD 4-hours price chart. Source: TradingView

Whereas the Bollinger bands indicator shows the following values; the upper value is at $6, while the lower value is at $5.6. The RSI score has enhanced up to index 45 due to the bullish price movement as its upwards curve hints at the buying momentum in the market for UNI.

Uniswap price analysis

The given hourly and daily Uniswap price analysis shows strong support for the buyers because of the price rise. The market has been following a bearish trend for the past two days, but today, a considerable amount of improvement in coin value was observed once again. The UNI/USD value now stands at $5.67, and the chances of further growth seem quite near as bulls are progressing at the moment.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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