Uniswap price analysis for today shows an uptrend in the UNI/USD pair, with a bullish lead taking it from $5.86 to the $6.09 mark. The bullish momentum that started yesterday is continuing today, with strong buying pressure from the market pushing UNI up. The support level for UNI remains at $5.86 and if it is breached, it could lead to further losses. On the other hand, resistance is found at $6.23, and if it is broken through, UNI could make its way up to the $6.50 mark.
The altcoin has a trading volume of $83 million and its market capitalization stands at $4.63 billion. More gains could be seen in the coming days as UNI continues to remain well-supported.
Uniswap price analysis 1-day price chart: UNI bulls gain 2.18 percent
The 1-day price chart for Uniswap price analysis shows that the present bullish momentum has yielded good results as UNI is now trading at $6.09 at the time of writing, as today is the second day of the bullish trend. Overall, UNI gained a value of 2.18 percent over the last 24 hours but has lost a tremendous value of 0.50 percent over the past week.
The 24-hour candlestick chart for Uniswap price analysis shows the price touching the crucial 25 and 50-day exponential moving averages (EMAs) as a result of the day’s price action, where the price continued to consolidate. The relative strength index (RSI) shows an increasing value of 53.36, showing an increasing market valuation for UNI. Similarly, the moving average convergence divergence (MACD) curve represents a healthy outlook for UNI, as it moved past its neutral zone over the past 24 hours.
Uniswap price analysis: Recent developments and further technical indications
The 4-hour Uniswap price analysis shows that the price has been rising from the very start of today’s session, The green candle that started today’s session as a result of the bullish lead is likely to further extend in the coming hours.
The RSI indicator is also indicating a bullish sentiment with its value of 45.56, while the MACD curve has crossed over its signal line could lead to further gains for UNI. Further, the 24-hour chart is showing a strong bullish crossover of the 50 and 200 EMAs, which could be an indication of further bullishness in the coming hours.
Uniswap price analysis conclusion
To conclude, the Uniswap price analysis shows an overwhelmingly strong bullish trend for the day as the coin value heightened up to $6.09. The bears were dominating at the start of the week, but now the bulls have taken control of the price action. On the other side, the hourly price chart shows signs of selling pressure building up as the price oscillations have slowed up in the past four hours.