- Bulls are at the lead according to Uniswap price analysis.
- The resistance level for UNI/USD is present at $5.80
- Support for the token is strong at $5.57
Uniswap price analysis shows bullish sentiment developing in the market, as UNI/USD continues to surge after hitting a yearly high at $5.84. The pair had been trading around $5.50. for some time and then suddenly shot up above $5.80 on the chart. The buying pressure seems to be increasing and pushing UNI/USD even higher, currently with a 24-hour change of 4.17 percent.
The trading section opened trading in the bearish territory at $5.57, however, the buying pressure soon pushed the prices higher. The bulls led the market to a resistance level of $5.85, but could not break it, resulting in a pullback.
Uniswap price analysis daily chart: UNI gets repositioned as Bullish momentum undergoes a revival
The daily chart for Unsiwap price analysis reveals that the bullish momentum is intensifying day by day as more buyers are contributing towards uplifting the coin value. The uptrend has been quite steady since the past week, and today the price has increased up to $5.84 as well. The SMA 20 curve is traveling higher than SMA 50 which is also a bullish signal. The moving average value is at a lower position now because of the uptrend and is settled on the $5.98 mark.
The moving average convergence/divergence (MACD) is showing a bullish crossover as the MACD line crosses over the signal line. This indicates that the coin is under an uptrend momentum and can surge more in value. Furthermore, the relative strength index (RSI) values have also shifted to 44.83 which depicts a neutral zone situation on the chart.
Uniswap price analysis: UNI continues to mark new high points as bulls retain the lead
The 4-hour Uniswap price analysis is showing signs of considerable recovery as the price climbed up to $5.84. The bulls have been ruling continuously which is why the uptrend has been quite stable. The market has been trading in a tight-range bound zone between the support at $5.57 and the resistance at $5.85, and a break, either way, will take the pair to its next destination. The RSI indicator is also showing a bullish curve as it is currently at an index of 51.69 indicating a neutral territory.
The moving average value has increased to $5.69 as well because of the constant rise in price. The 50-day SMA curve is higher than the 20-day SMA curve which is also a bullish indication on the chart. The MACD indicator for Uniswap analysis points out that there is an upward trend currently underway as the MACD line crosses over the signal line. The histogram values are also positive on the 4-hour chart which suggests that the buying pressure is likely to increase.
Uniswap price analysis conclusion
The bulls are making a comeback once again according to the Uniswap price analysis. The buyers are taking control of the market due to which UNI/USD is witnessing a continuous surge in its value. The technical indicators also point towards a positive trend, which indicates that there is room for growth in the short term. The buying pressure is gradually increasing and UNI/USD might be able to break the resistance level at $5.85 soon. Investors should take this as a good opportunity to increase their holdings in the token for better returns in the future.