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Uniswap price analysis: UNI bulls increase the range to $6.68 as bullish trend intensifies

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TL;DR Breakdown

  • Uniswap price analysis appears to be bullish
  • Support for UNI/USD is present at $6.42
  • The resistance for UNI/USD is present at $6.73

    Uniswap price analysis confirms an increasing trend for cryptocurrency as the coin value has increased today. The price has increased by 2.16 percent in the last 24 hours and is currently trading at $6.68. Resistance for the UNI/USD pair is at $6.73, while support is at $6.42, and a break below the support level could push the price back toward $6.60. The price of Uniswap has been steadily increasing since the beginning of 2023, with an overall market capitalization of over $5.06 billion. The 24-hour trading volume has also increased, reaching $121 Million today. 

    Uniswap price analysis 1-day chart: Bulls keep driving prices up as the coin reaches $6.68.

    The one-day Uniswap price analysis points to bullish sentiment in the market. The Uniswap prices are stuck in a narrow range, but there is still room for further upside. At the beginning of the trading day, bulls pushed the price higher and are currently doing so as they cover the range upwards and surge up by 2.16 percent.

    image 318
    UNI/USD 1-day price chart, Source: TradingView

    The Relative Strength Index (RSI) is currently at 60.85, signaling a strong uptrend and an overall positive outlook for Uniswap. The MACD indicator shows a bullish trend, with the histogram increasing. The signal line is also increasing, indicating that the bullish momentum is likely to continue. The Bollinger bands show the upper band at $6.687, representing the resistance to UNI, and the lower band at $4.648, representing the strongest support for UNI.

    UNI/USD 4-hour price chart: Recent updates

    The hourly price chart for the UNI/USD pair shows that the market has been in a strong uptrend and looks set to continue in the same direction. The next resistance level is seen at $6.73, while support is found near $6.42. A break above the resistance level could push the price up to $7.00 and beyond in the coming days. The volatility is mild, and the price is trading above the volatility indicator’s uppermost limit. which indicates a relatively positive signal for the future.

    image 317
    UNI/USD 4-hour price chart, Source: TradingView

    The Bollinger bands show the upper band at $6.919 and the lower band at $6.053, representing the strongest support for UNI. The relative strength index (RSI) currently stands at 65.77, indicating that the coin is still in an uptrend and is likely to continue rising in the near future. Moreover, the MACD indicator also shows a bullish trend, with the histogram increasing while the signal line is also rising, indicating that the bulls are in control. 

    Uniswap price analysis conclusion

    In conclusion, Uniswap’s price analysis shows that the coin has seen a steady increase in price over the past few months, but it is still highly volatile. The bullish current is expected to intensify in the upcoming hours as bulls aim for a $6.72 resistance level. The price could drop or skyrocket depending on various factors such as demand, supply, and various other market forces.

    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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