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Uniswap price analysis: UNI gains nominal value as price touches $7.27

Uniswap price analysis

TL;DR Breakdown

  • Uniswap price analysis is bullish today
  • Resistance for UNI/USD is present at $7.39
  • Support for UNI/USD is present at $6.86

The Uniswap price analysis is showing bullish signs once again after an extended period of consolidation. The price of UNI/USD started to rise later in the day, and the bulls are successfully continuing their endeavor today as well, as the price has increased significantly over the past few hours. The next resistance level for UNI/USD is present at $7.39, and if the bulls can push past this level, we could see even more gains in the near future. On the other hand, support for UNI/USD is currently located at $6.86.

Uniswap price analysis 24-hour price chart: Price curve heads up towards $7.27 as bulls continue to rally

The 1-day price chart for the Uniswap price analysis shows that the price has increased today as bulls have taken the lead. The coin is trading at $7.27 at the time of writing. Due to the recovery process initiated by the bulls, the crypto pair is reporting a 4.16 percent increase in value for the last 24 hours. At the same time, the trading volume has increased to $247 million, and a market cap of $5.53 billion has also been recorded for UNI/USD.

image 40
UNI/USD 1-day price chart, Source: TradingView

The volatility is currently moderate, The upper Bollinger band is currently at $7.40, while the lower band is at $6.81. The moving average (MA) is at $6.98 above the SMA 50 curve but is slowly moving downwards. The relative strength index (RSI) is on an upwards curve in the lower half of the neutral zone, trading at an index of 56.67. The RSI is on an upwards curve, hinting at the bullish momentum and buying activity in the market.

Uniswap price analysis: Recent developments and further technical indications

The 4-hour Uniswap price analysis shows that the price function has been following an upward trend for the last 4 hours, as bulls took charge later yesterday. Previously UNI was on a downtrend for the past few days. Today no bearish hindrance has been observed as green candlesticks are appearing on the 4-hour chart.

image 39
UNI/USD 4-hour price chart, Source: TradingView

The volatility is also high on the hourly chart, the upper limit of the Bollinger bands is at $7.38, and the lower limit is at $6.80. The MA is also trading below the current price level on the 4-hour chart at $7.12. The RSI is trading at a slightly upward curve as its curve became milder recently, currently, at 56.40 in the neutral zone, it is not indicating any extremities as of now.

Uniswap price analysis conclusion

The Uniswap price analysis suggests that the coin is in bullish momentum after yesterday’s correction. The UNI/USD price is now touching the $7.27 mark, which is the highest of the last few hours, and it can be expected that it will move up to further highs in the approaching hours.

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.
Joel Oluwatobi

Joel Oluwatobi

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

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