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Uniswap price analysis: Price finds stability at $5.77 after receiving a bullish push

Uniswap price analysis

TL;DR Breakdown

  • Uniswap price analysis shows a bullish trend
  • Resistance for UNI is present at $5.89
  • Support for cryptocurrency is at $5.38

Uniswap price analysis reveals that the cryptocurrency is currently trading at $5.77 after a slight increase of 4.47 percent over the last 24 hours. The market capitalization of the digital asset stands at $4.39 billion, and the 24-hour trading volume is recorded at $224 million. The support forUNI/USD is present at $5.38, and a break below this level may result in a price decline to the $5.00 support level. On the other hand, the resistance for the pair is at $5.89, and a breakout above this level could take it to the $6.00 resistance level. which is the next major resistance.

Uniswap price analysis 4-hour chart: Bulls stumble to keep control

The hourly Uniswap price analysis chart reveals that the cryptocurrency has been following an uptrend for the last few hours. On the other hand, the price has seen a slight downtrend over the last few days as the market corrects itself after a strong rally.

image 190
UNI/USD 4-hour price chart, Source: TradingView

The 4-hour MACD reveals increasing bullish momentum in the market as the signal line crosses above the histogram. The RSI indicator is also moving in the overbought region, which indicates that UNI/USD may see a slight correction before it can resume its upward trend. The upper Bollinger band is at $6.50, while the lower band is at $4.92.

UNI/USD 1-day price chart: Price moving unboundedly upwards

The 1-day Uniswap price analysis chart shows that the cryptocurrency is currently trading in an ascending channel. The digital asset has seen a strong rally over the last few days as it surged from $5.38 to its current price level. However, the market may see a correction in the near future as the RSI indicator is currently in the overbought region.

image 191
UNI/USD 1-day price chart, Source: TradingView

The 1-day MACD for UNI/USD is currently at 0.052, which indicates a slight bullish momentum in the market. The Relative Strength Index is currently at 54.46, and a break below 50 could signal a price correction. The Bollinger bands are currently showing minor volatility in the market as the upper band is at $7.97, while the lower band is at $5.34 on the 1-day chart.

Uniswap price analysis conclusion

To conclude the Uniswap price analysis is indicating a bullish trend for the day as the price is on its way to recovery once again. The UNI/USD value is now standing at $5.77, and it can be expected that further upside is coming ahead. The hourly prediction is in favor of the buyers as well, as the price has followed an uptrend in the last four 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.
Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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