Uniswap price analysis indicates a rise in the price levels commencing from the past few hours. The last hours have seen a considerable comeback from the bulls, which was made impossible by the bears to stand for long. Like so, the bullish streak is not strong enough but can take the price levels to $5.47 of value. Further analysis shows that support appeared for UNI when the price went down to $5.37 and bulls rejected further downside, it can be expected that UNI may continue to recover in the coming hours.
The altcoin has surged by 0.60% and is trading at $5.47 for the past few hours now. The market cap and 24-hour volume of UNI are $4.16 billion and $35 million respectively.
Uniswap price analysis 1-day price chart: UNI price shows signs of recovery after a constant battle
The 24-hour Uniswap price analysis shows a commendable rise in the price value today if a comparison is made with today’s earlier trading levels. The ascending channel is intact for the altcoin and it can be expected that the bulls will push UNI ahead to reach a new high in the coming hours.
The volatility is high for the cryptocurrency as the expansion between the Bollinger bands has resulted in its upper value reaching the $5.55 mark, and the lower band at $4.99. The MACD indicator is seen entering the bullish zone, and it can be anticipated that UNI may surge ahead in the coming hours. The RSI of the altcoin is seen above at 44.67, which indicates that UNI is trading near the overbought zone but may come back to the neutral zone shortly.
Uniswap price analysis: Recent developments and further technical indications
The 4-hour Uniswap price analysis indicates the price breakup was downwards at the start of the trading session following the previous bearish lead that caused notable damage to the price value. However, a strong bullish activity was observed late on the day when bulls took the price function to the current level of $5.47, turning the tables in their favor.
The Bollinger bands are seen converging as the price value is trading in between the bands, which indicates that a sideways trend may be followed by UNI in the coming hours. Similarly, The upper and lower values of the Bollinger bands are as such; the upper value is $5.55, while the lower value is $5.31. The RSI score has been hovering around the index of 53.39. The histogram is in green and is seen increasing, which shows that the bulls may take over the market soon in the MACD chart.
Uniswap price analysis conclusion
It can be anticipated that Uniswap price analysis may surge ahead and reach a new high in the coming hours if the bullish activity continues. The altcoin is expected to remain in the ascending channel and is likely to see a sharp uptrend in the near future.