- Uniswap price analysis successfully retraced to $5.19 after touching $5.0 yesterday
- UNI/USD is currently in the range of $5.39 and $5.0
- If the bulls take over, it can easily break above $5.39
- For now, it should be safe for traders to lock their profits near the local resistance
Today, the crypto market and Uniswap price analysis seemingly have mixed emotions. Yesterday, Uniswap price analysis recovered after reaching $5.0, hence confirming the support. Earlier than that, the market was consistently dipping for three days after retesting at $5.39. So, we can be certain that $5.0 and $5.4 are the current limits in which Uniswap is trading. For now, it continues consolidating.
The crypto heat map accurately depicts the mixed sentiments present in the market today. Bitcoin has increased by 0.22 percent while the rest of the market is yet to follow it. Ethereum is still low by 0.19 percent along with Dogecoin and Cardano. On the other hand, Ripple and Litecoin are in the green.
On the 1-day chart, we can see Uniswap bouncing off from $5.0 and recovering slightly. Currently, it is at $5.19 with further potential for upside as the RSI shows an increasing gradient. The MACD indicator is also showing positive signals as the negative histograms are reducing in strength.
Uniswap 1-hour price analysis
On the hourly time frame, Uniswap price analysis does not show significant volatility. Nevertheless, UNI/USD continues to recover in shorter time frames. It is yet to be determined what the day’s high would be today. However, based on the behavior of Uniswap price analysis in the recent past, we can expect it to continue trading in the range of $5.39 and $5.0. Traders can use this information for their trading decisions.
Uniswap 4-hour price analysis: Uniswap bounced back and reached $5.19
On the 4-hour price analysis, we can see that Uniswap price analysis is taking a bullish turn with the RSI rapidly increasing to 45 from 33 and the MACD showing good improvement. The next critical point for Uniswap is obviously going to be around the $5.39 mark. If the bulls are ready to take over, Uniswap may break past the resistance level and find new support. However, that is yet to be determined.
Uniswap price analysis: Conclusion
Uniswap has successfully bounced back from $5.0 and continues to move upwards. However, the next critical resistance is at $5.39 and it must break through to go any higher. For now, it is safe to assume that Uniswap is going to consolidate between $5.4 and $5.0. This can give traders a safe exist without having to deal with any unexpected losses. As always, use your own discretion and consider reading our detailed Uniswap price prediction for an in-depth overview of what to expect from Uniswap.