Uniswap price analysis shows that the digital asset has found stability at $6.05 after receiving a bullish push from the market. The cryptocurrency is currently trading above the $5.96 level, and it looks like it is preparing for another leg up in the near future. The next resistance level to watch out for is $6.20. On the downside, the strongest support levels are $5.96.
The market capitalization for UNI/USD is currently $4.67 billion. The 24-hour trading volume is $110 million. The digital asset has been on a bull run since the beginning of today, and it looks like the uptrend is set to continue in the near future. Uniswap has outperformed most of its competitors in the market, and it is currently one of the best-performing cryptocurrencies.
UNI/USD 24-hour price analysis: Price returns to $6.05, increasing chances for recovery
The one-day Uniswap price analysis shows that the price has increased further during the last 24 hours after taking a small dip at the start of the trading session. Although the trends have been in favor of bulls for the past few days, the price has seen some corrections in the last few hours. However, the bulls have managed to keep the price around $6.05, indicating that further recovery is likely. The moving average (MA) is trading above the price level at $5.73 in the one-day price chart.
The volatility has been increasing; hence it can be expected that a further uptrend might follow. The Bollinger Bands Indicator shows the following readings for the day; the upper value is $6.11, while the lower value is $4.77. The Relative Strength Index (RSI) score has increased up to index 54.23 because of the uptrend.
Uniswap price analysis for 4-hour: Cryptocurrency follows an uptrend as price trails past $6.05
The 4-hour Uniswap price analysis suggests a dip in price levels was observed some hours earlier today in the trading session when the price decreased to the $5.96 level. But bulls returned and took control; as the coin started to get the positive market sentiment, the price levels turned green and are still on the increasing side. After the recovery made during the last eight hours, the price has reached $6.05 and seems to be increasing further over the coming hours.
The moving average indicator is showing a value of $6.07 mark below the price level, but a crossing above SMA 50 is expected in the coming hours, hinting at the bullish impulse. The Bollinger bands Indicator has been maintaining the average at 6.05, the upper value is at $6.25, and the lower value is at $5.54, hinting at the scope of volatility. The RSI is trading at the center of the neutral zone at index 62.24 with an upwards curve.
Uniswap price analysis conclusion
Uniswap price analysis is showing a bullish trend for the day as the price function is on the increasing side. Even though the bulls have recovered the price during the last four hours as well thus, a further increase in UNI price levels can be expected during the coming hours.