Uniswap price analysis suggests a strong bullish trend, as the coin as been on an upward trajectory for the last 24 hours. The coin has continued to show strong support from its investors, which has been reflected in its price. The UNI/USD pair has seen a steady increase in its price and is moving toward the resistance level of $7.12. As of now, Uniswap is trading at $7.04 and is likely to continue its bullish trend in the near future. The market cap for the coin stands at $5.36 billion, and the 24-hour trading volume is at $155 million.
Uniswap price analysis 1-day chart: Bullish rally drives UNI/USD prices to $7.04
Looking at the daily chart of UNI/USD price action, we can see that the coin has been in an upward trend since the beginning of today. The price has been trending higher and reached its all-time high of $7.04. The bullish pattern is likely to continue as the token is trading above the support level of $6.81, which is encouraging for investors.Â
Furthermore, the relative strength index (RS) is at 51.17, which indicates that the coin is in an overbought position and may need to take a breather before making any the coin is trading above the 20-day, 50-day, and 200-day moving averages, which are providing support to the coin. The moving average convergence and divergence (MACD)Â and the signal line are in a bullish crossover, indicating that the coin is likely to move higher.Â
UNI/USD 4-hour price chart: Bulls prepare for an ascent above $7.04
The 4-hour Uniswap price analysis indicates that the token is trading in a bullish signal and the buyers are dominating the market. Resistance is seen at $7.12, if the buyers can break this level, then Uniswap may reach its all-time high of $7.29 while support is found at $6.91. The buyers need to break this level for the bullish trend to continue.Â
The technical indicator analysis suggests that Uniswap is in a bullish trend, and the coin is likely to break its all-time high of $7.1 soon. The coin is currently trading above the 20-day moving average, suggesting that the buyers are still in control of the market. The moving average convergence and divergence (MACD) and the signal line are in a bullish crossover, and the relative strength index (RSI) is above the 50 levels, indicating that the coin may continue its upward trend.
Uniswap price analysis conclusion
Overall, Uniswap is in a strong bullish trend and has been. Moreover, the technical indicators are suggesting that the coin may soon break its all-time high of $7.29.The four-hour and one-day Uniswap price analysis support the market’s upward trend as the bullish momentum intensifies. Investors should be cautious and monitor the market for any changes in price before making any decisions.
