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Uniswap price analysis: UNI resurges at $6.11 as bullish impulse returns

Uniswap price analysis: UNI resurges at $6.11 as bullish impulse returns

TL;DR Breakdown

  • Uniswap price analysis is bullish today.
  • Support for LINK is present at $5.84.
  • Resistance is present at $6.17.

The Uniswap price analysis is bullish today as the coin found support after swinging low towards $6.06 yesterday. Bullish momentum is quite steady today as the price has been continuously rising during today’s trading session. As the price continues to rise, selling pressure has not yet been built, and the price has touched $6.11 currently. The next resistance for UNI is present at $6.17, so we can assume the selling pressure will be high above the current price level.

UNI/USD 1-day price chart: Bulls continue upwards trend

The upswing is back today, according to the one-day Uniswap price analysis. Because of the bullish lead after the pullback saw yesterday, the price movement has been upward. The price is currently settling at $6.11, and it is very likely that it will soon attempt to break through the resistance level at $6.17 as well. The one-day price chart’s moving average (MA) value is at $6.13.

UNI 1d 1
UNI/USD 1-day price chart. Source: TradingView

A crossover between SMA 20 and SMA 50 curves was recorded in the past week, which is also a bullish sign as the SMA 20 continues trading above the SMA50. The Bollinger bands indicator dictates the following values for the day; the upper value is at $6.56, representing resistance, while the lower value is at $5.09. The Relative Strength Index (RSI) score is 52 at the moment, with a slight upward curve.

Uniswap price analysis: Recent developments and further technical indications

The price is going high once again, according to the four hours Uniswap price analysis, as an increasing trend has been seen dominating the market in the last four hours as well. Currently, the price is standing at the $6.11 level. The price recovery speed is satisfactory, but bulls need to show more momentum to challenge the next resistance.

uni 4h 1
UNI/USD 4-hours price chart. Source: TradingView

Contrarily, the volatility has been decreasing, which is a bad sign. Currently, the lower Bollinger band is at $5.98, while the upper Bollinger band is at $6.26. The market may be experiencing buying activity at the moment because the RSI curve is now pointing higher and is at index 49.

Uniswap price analysis: Conclusion

The Uniswap price analysis reveals a good increase in price value as bulls are rallying from the start of the trading session; currently, the price is climbing again thanks to the buyers’ support, but as the trend has been generally higher, we predict UNI to attempt $6.17 in the coming hours today.

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.

Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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