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Uniswap price analysis: UNI breaks above $6.57 as bulls get stronger

Uniswap price analysis

TL;DR Breakdown

  • The Uniswap price analysis is bullish today
  • The resistance for UNI is present at $6.94
  • Support for UNI/USD is found at $6.03

image 272
Cryptocurrencies price heat map, Source: Coin 360

Uniswap price analysis is bullish today as the coin’s price function is headed upwards, and we expect more upside to follow after a break above $6.57. Soon UNI will be retesting the $6.94 resistance after covering the range from $6.03 to $6.94. Market pressure will appear at this level, and bulls will need a little more push for a breakthrough; even some correction is also not out of the question. If UNI succeeds in breaking above the $6.94 resistance level, bulls will start their march toward the $7.00 target.

UNI/USD 1-day price chart: Uniswap bulls found support at $6.03

The 1-day price chart for Uniswap price analysis shows the price continues to heighten as bullish momentum continues throughout the day with a few bearish intervals as well. As a result, the UNI/USD price has increased to $6.57 at the time of writing, despite, today again, the price breakout was downwards, but bulls out ruled the bearish pressure. UNI has gained a value of 7.27 percent over the last 24 hours. The trading volume has increased by 82.95 percent, and the market cap has increased by 7.51 percent, resulting in a market dominance of 0.48 percent.

image 271
DOGE/USD 1-day price chart. Source: TradingView

The volatility is high, as the Bollinger bands Indicator is maintaining its expansion, the upper limit is at $6.39, and the lower limit is at $4.66. The Relative Strength Index (RSI) score has also been elevated up to index 57.12 after a steep decline, hinting at the buying activity. The moving average (MA) 50 is at $6.39, and the MA 200 is at $6.61; this indicates a clear bullish trend.

Uniswap price analysis: Recent developments and further technical indications

The 4-hour price cart for Uniswap price analysis shows bulls have ruled the chart for the last 24 hours today while giving the lead to bears. Bulls showed comparatively good progress, and the overall trend has been upward for today, and the same trend has been observed in the last four hours as well, as the price has touched $6.57 now. The moving average is currently at $6.33, just above the $6.30 mark.

image 270
DOGE/USD 4-hour price chart. Source: TradingView

The volatility increased on the 4-hour chart because of the bearish trend previously, as a result, the Bollinger bands are covering more area. The upper Bollinger band is present at $6.72, the lower Bollinger band is at $5.48. The RSI score has been rising again after stepping into the undersold limit yesterday, as most bulls have been in the lead today; the RSI has improved up to index 68.33.

Uniswap price analysis conclusion

The Uniswap price analysis is indicating that UNI has finally found support after a bearish slide that lasted for three days. The price has increased up to $6.57 after the bullish efforts carried out today. We expect UNI to test further upside marking a high above $6.94 later today as bulls march on.

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.
Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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