Uniswap price analysis: UNI rallies by over 4% after a successive bull run


TL;DR Breakdown

  • Uniswap price analysis is bullish today
  • The strongest resistance is present at $5.85
  • The strongest support is present at $5.41

    Uniswap price analysis shows a bullish trend for the day. The price has increased considerably during the last 24 hours and is now positioned at the $5.72 mark. The past few hours have been highly encouraging for the buyers, as the price glided past the $5.41 support level with relative ease. Despite facing some resistance at $5.85, the bullish momentum has prevailed and looks set to continue on this positive trajectory. Uniswap has increased by 4.08 percent over the past day, with a trading volume of $99,278,998. At the time of writing, UNI had a live market cap of $$4,359,249,144 and was ranked #17.

    UNI/USD 24-hour price analysis: Price movement is positive, will UNI reach 5.80?

    The one-day Uniswap price analysis is showing encouraging signs for the cryptocurrency as the price is following the bullish movement. The UNI/USD has gained nearly 4.08% in the last 24 hours, and this trend is likely to continue for some more time. The bullish momentum may continue in the near term if the price can stay above the key support level of $5.41 and break through the resistance at $5.85.

    image 507
    UNI/USD 1-day price chart, Source: TradingView

    The MACD reveals increasing bullish momentum in the market as the signal line crosses above the histogram, which indicates that the price may continue to rise in the near future. The relative strength index(RSI) is currently at 42.53, which indicates that the market is in bullish momentum. The Bollinger bands are also narrowing, which is a sign of increased volatility and possible price spikes.

    UNI/USD 4-hour price analysis: Bulls are in control

    Uniswap price analysis chart, reveals that the cryptocurrency has been following an uptrend for the last 4- hours. Overall, it seems that the bulls are in full control of the market and there is a strong possibility that UNI/USD will continue on this upward trajectory for some time to come.

    image 506
    UNI/USD 4-hour price chart, Source: TradingView

    The Relative Strength Index is currently at 52.16, which indicates that UNI/USD may see a slight correction before it can resume its upward trend. The Bollinger bands have contracted which indicates that the market is consolidating. The upper limit of the Bollinger Band is $5.799, and the lower limit is $5.102.The 4-hour MACD(blue) line is above the signal line (red) which indicates that the bullish momentum is cooling down.

    Uniswap price analysis conclusion

    Uniswap price analysis concludes that UNI prices are currently trading in a bullish manner and are likely to move higher in the near term as the bulls remain in control of the market. However, if the buying momentum continues, then UNI/USDĀ  may continue upside above $5.72.

    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.
    Derrick Clinton

    Derrick Clinton

    Derrick is a freelance writer with an interest in blockchain and cryptocurrency. He works mostly on crypto projects' problems and solutions, offering a market outlook for investments. He applies his analytical talents to theses.

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