Uniswap price analysis: UNI regains balance above $5.96 after a bullish impulse

Uniswap price analysis

TL;DR Breakdown

  • Uniswap price analysis shows a bullish
  • Resistance for UNI/USD is present at $6.06
  • Support for the Uniswap coin is seen at $5.62

Recent Uniswap price analysis shows that the bulls have made a return on the price chart as a rise in price has been detected. The situation has been favorable for the buyers as the price has been covering an upwards range today. A steady decline in price levels was observed for the past few days, but the circumstances are different now, and the price function is in the bulls’ control today. The upward movement of the price action has resulted in it reaching $5.96 in the last 24 hours.

UNI/USD 1-day price chart: Bulls strive for the lead as price levels show recovery

The 1-day price chart for the Uniswap price analysis gives the lead to the buyers to secure their winning position as the price has increased up to $5.96 today. In the past few days, a considerable level of depreciation in the coin’s value has been reported as the price has decreased notably over the past week. The losses have been considerable, but now a chance for recovery has arisen. The price is up by 4.30% in the last 24 hours, with a market cap of $4.553 billion, and a trading volume of $98 million in the last 24 hours.

image 230
UNI/USD 1-day price chart, source: TradingView

Meanwhile, if we talk about the moving average value in the 1-day chart, then it is found resting at the $5.64 level, which is acting as a strong resistance for the UNI/USD pair. The RSI indicator is moving in an upward direction, and it has reached the 52.17 level. The MACD line is moving in a sideways manner, while it resides close to the positive value of 0.094.

Uniswap price analysis 4-hour price chart: UNI/USD retraces from highs as bulls take a breather

The 4-hour price chart for Uniswap price analysis shows the other side of the picture, as the uptrend seen on the 1-day price chart has been replaced by a sideward movement. The UNI/USD pair has been trading in an upwards range since earlier today’s trading session, as the bears were in control late yesterday. The current resistance for the UNI/USD pair is seen at $6.06, while support for the coin is located at $5.62 in this time frame.

image 231
UNI/USD 4-hour price chart, source: TradingView

The moving average (MA) is also at a lower height as compared to the current price and is present at $5.85. The RSI index has increased as well because of the ongoing bullish trend and has gone up to index 58.82 just below the centerline of the neutral zone. The MACD line has crossed over the signal line and is placed in a sideways direction at the moment. This indicates that there could be a forthcoming price correction.

Uniswap price analysis conclusion

Uniswap price analysis suggests the trend is still bullish overall for today. However, it can be observed that the price has been trading in the lower price envelope of the last previous days, which has affected the coin’s value adversely. The recovery reported today is nominal, and the 24-hour chart shows that the price is still under correction. Therefore, it remains to be seen if UNI/USD can break above the $6.06 level in the coming hours.

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.
Joel Oluwatobi

Joel Oluwatobi

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

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