Uniswap price analysis: UNI/USD increases value by 1.02%, indicating a strong bullish run


TL;DR Breakdown

  • Uniswap price analysis shows a bullish trend
  • UNI/USD support is present at $4.96
  • Uniswap price is facing resistance at $5.13

Uniswap price analysis shows a bullish signal today as it rises to the $5.09 mark and has increased by 1.02 percent in the last 24 hours. The bears were in control of the market yesterday, but the bulls took over the market today and pushed the prices higher. The bulls have been in control of the market since the beginning of today after hitting support at $4.96 and a resistance level at $5.13, which is likely to move upwards toward $5.15.

However, the trading volume has increased by 22.77 percent and is currently at $60,425,366 during the intraday trading session.  This shows that the buyers are in control of the market.  Therefore, the market capitalization for the UNI/USD pair is trading at $3,871,994,773.The digital asset is currently ranking position 16 in the overall market.

UNI/USD 1-day price chart: Bullish momentum spikes at $5.09

The one-day Uniswap price analysis is presently trading in an upward channel and is currently trading at $5.09.Uniswap price analysis shows a developing trend in market volatility, making UNI prices more susceptible to extreme swings in either direction. The upper limit of Bollinger’s band is present at $6.155, which serves as a resistance point for UNI. Conversely, the lower limit of Bollinger’s band is currently at $4.739, which serves as another support point for UNI.

image 573
UNI/USD 1-day price chart, Source: TradingView

The UNI/USD pair shows that the 50-day SMA is currently at $5.192, and the 200-day SMA is at $5.075, which is another confirmation of the bullish trend in the market. This indicates that the bulls are gaining strength and are likely to push prices higher in the near future. The relative strength index (RSI) indicator is currently at 38.85, which indicates that the market is overbought.

UNI/USD 4-hour price chart: Latest development

The 4-hour Uniswap price analysis reveals a strong bullish run in the market. The graph demonstrates that cryptocurrency has recently been on an upward trend. Since there is resistance at $5.13 and support at $4.96, the market has been trading at $5.09 for the past four hours. It is anticipated to rise higher as long as the bulls are in charge.

image 571
UNI/USD 4-hour price chart, Source: TradingView

The relative strength index (RSI) score value is currently at 42.99, which is below the 50-level level, indicating that the market is overbought and that the price is increasing slightly. The MA50 is currently at 5.058, and the MA200 is at 5.075, which indicates that the market is in a bullish mood. The upper Bollinger band is now at the $5.283 level, and the lower Bollinger band is at $4.979.

Uniswap price analysis conclusion

In conclusion, Uniswap price analysis shows the bulls have demonstrated their dominance, and they may soon seize control of the market for the long term as the market exhibits great signals of any shift, indicating that the market is in a strong upswing. Indicators on the hourly and daily charts both indicate a positive trend, which might cause prices to rebound to $5.10 level.

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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