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Uniswap price analysis: UNI rallies towards $5.96 as bullish momentum returns

Uniswap price analysis

TL;DR Breakdown

  • Uniswap price analysis shows a bullish trend
  • Resistance for UNI is present at $6.00
  • Support for cryptocurrency is at $5.43

Uniswap price analysis is pointing in a bullish direction for now as bullish momentum gained strength today, and bulls are continuing their push to take UNI toward the $6.00 resistance level. The bears were in control of the market earlier today, with support at $5.43, but the bulls regained control and pushed UNI toward the $5.96 mark.

The altcoin market has been on an upward trend recently, and it appears that this momentum will continue in the near future. The UNI/USD has gained over 1.28% at the time of writing, and it looks like there could be more upside potential in the short term. Additionally, the 24-hour trading volume is currently sitting at $187 million, with market cap highs of $4.56 billion, which suggests that more investors are entering the market and buying up UNI.

Uniswap price analysis: Recent developments and further technical indications

The 4-hour Uniswap price analysis shows the coin recently faced some resistance after breaking upwards, as the price function has slightly decreased in the last few hours. However, bulls have managed to make a breakthrough, and the coin rallied high prior to the current correction which is a positive sign for the price to increase further in the coming hours, as the bulls are still in a dominant position.

image 247
UNI/USD 4-hour price chart, Source: TradingView

The volatility is high for UNI/USD on the 4-hour chart, as the Bollinger bands show quite a range for the price movement. The upper band is at the $6.16 mark, and the lower band is at the $5.43 mark. The moving average (MA) has also traveled up and is present at the $5.85 mark. The relative strength index (RSI) is trading in the upper half of the neutral region at index 46.47, but the curve of the indicator has flattened out, which hints at pressure from the bearish side.

Uniswap price analysis 1-day price chart: UNI to continue upside

The 1-day Uniswap price analysis shows UNI is in bullish momentum, as the cryptocurrency is trading hands at $5.96 at the time of writing. The bulls and bearish pressures are struggling to gain control of the market, and a fierce battle is currently going on. The market started at a low of $5.43, and the coin rallied high to reach a high above $6.00. level. which is a sign of bullish sentiment.

image 246
UNI/USD 1-day price chart, Source: TradingView

The volatility for UNI/USD pair is high, and the Bollinger bands are further diverging. The upper band has reached the $6.01 mark, and the lower band has reached the $5.94 mark. The mean average of the indicator is present at the $6.01 mark above the price level. The Relative strength index (RSI) is trading at an upwards curve at index 50.91, indicating the buying activity in the market.

Uniswap price analysis conclusion

Uniswap price analysis shows the coin is bullish for today, the price has increased up to $5.96. The cryptocurrency is expected to keep the bullish momentum in the near future, as the bulls are focussing on breaking past the resistance level of $6.00. However, there might be some bearish pressure before reaching this mark, but overall the market is trending upwards.

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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