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Uniswap price analysis: UNI advances upwards at $5.77 after bullish momentum

Uniswap price analysis

TL;DR Breakdown

  • Uniswap price analysis is bullish today
  • The strongest resistance is present at $5.87
  • Support for UNI/USD is present at $4.77

The Uniswap price analysis is highly bullish for today as the coin rallied from $4.77 to $5.87. The bulls took the lead following a descending for the previous day, but overall the cryptocurrency price is in the higher price range as the next resistance stands at $5.87, and the support for UNI/USD stands at $4.77. A rise in price has been observed in the last 24 hours as well, which is quite encouraging for the buyers. 

The price has been uplifted to the $5.77 level, as the bulls have been successfully maintaining the upwards trend line since the start of today. The market capitalization of the coin has also reached $4.39 billion, while the 24-hour trading volume of the coin is currently at $370 million. 

UNI/USD 1-day price chart: UNI gains 6.17 percent as trading volume increases significantly

The 1-day Uniswap price analysis shows the price has increased significantly today as the bulls regained control. UNI/USD is trading at $5.77 at the time of writing. Uniswap reports an increase in value of 6.17 percent over the last 24 hours as bulls showed good momentum today. However, UNI also reports an 18.78 percent decrease in value over the past week, which is also a considerable loss. 

image 166
Source: TradingView

The MACD indicator shows bullish movement as it moves above the signal line. The RSI indicator is also in the overbought zone, indicating that UNI may see a minor correction soon. However, overall the trend remains upward for now. The SMA lines are also showing a bullish crossover, indicating a positive trend in the near term. 

UNI/USD 4-hour price chart: Bulls struggle to make a breakthrough above $5.77

The 4-hour Uniswap price analysis shows the selling pressure has started to build as the price is now coming down after shooting up for eight hours. Overall the recent trend line on the 4-hour chart has been upward for the last 24 hours as the coin started to rally during the last trading session.

image 167
Source: TradingView

The bullish momentum has helped the RSI maintain its slight upward curve as its score has increased to 26.54. The Histogram are indicating green bars, suggesting the presence of buying pressure. The MACD line has also crossed above the signal line, indicating bullish movement for UNI in the near term. The SMA 50 is currently at $5.49 ,and the SMA 200 is at $4.59, indicating strong support levels for UNI/USD in case of a dip. 

Uniswap price analysis conclusion

Overall, Uniswap analysis shows that the coin is currently experiencing bullish momentum and may continue to rise in price if it breaks through resistance levels. However, investors should also keep an eye out for any potential correction in the near term. 

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.

Ann Mugoiri

Ann Mugoiri

Ann likes to write about crypto and blockchain technology. She has been following the development of these technologies for a few years and believes that they have the potential to disrupt many industries.She has specialized in technical analysis to help cryptocurrency traders make more informed decisions.

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