Uniswap price analysis: UNIUSD rises above $5.97 as bullish momentum returns

TL;DR Breakdown

  • Uniswap price analysis shows a bullish trend
  • UNI prices have set support at $5.70
  • UNI prices are facing resistance at $6.03

Uniswap’s price analysis indicates a bullish market sentiment after the cryptocurrency broke above the $5.97 level. The UNI/USD pair has found support at $5.70 and is currently trading at $5.97. The price of the Uniswap token has been in a steady uptrend since the beginning of today. The bulls have been pushing the price higher, and the bears have been unable to break below the $5.70 level. The resistance for the UNI/USD pair is at $6.03, and a break above this level could see the Uniswap price reach $6.00. Uniswap has seen a slight price increase of 4.26% in the past 24 hours. The market cap for the coin is $2.801 billion, and the 24-hour trading volume is $69 million.

Uniswap price analysis 1-day chart

The 1-day Uniswap price analysis indicates that the market sentiment is bullish and the price could break above $6.03 in the near future. The price has been in a strong uptrend since the beginning of today, and it is expected to continue its trend higher. The technical indicators also support the bullish sentiment and indicate a further rise in the Uniswap price. 

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

The MACD indicator on the 24-hour price chart shows the Uniswap price is currently in a bullish state. The MACD line has crossed above the signal line, indicating an increase in buying pressure. The 50-day and 200-day moving averages have maintained their bullish crossover, indicating a further potential for gains in the near term. The relative strength index (RSI) also shows the Uniswap price is currently in a bullish state. 

UNI/USD 4-hour price chart: Recent updates

Looking at the hourly Uniswap price chart shows that the bulls have managed to push the price above $5.97 as it rebounds after the relative price dip. This indicates that the buyers are still in control and could push the price higher in the near term. The nearest support level is at $5.70, while the nearest resistance is at $6.03. 

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

The Relative Strength Index (RSI) is indicating a bullish sentiment with an above-average reading of 56.28. The Moving Average Convergence Divergence (MACD) is also in bullish territory with a positive divergence. Moreover, the 50 MA is currently at $5.889 and is acting as support for the market, while the 200 MA at $5.961 is serving as resistance. 

Uniswap price analysis conclusion

In conclusion, Uniswap’s price analysis shows that there has been a rise in the near term, and it is expected to break past the resistance level of $6.03 in the coming days. Additionally, the bullish sentiment is supported by the technical indicators, which indicate further gains in the near term. Therefore, traders should keep an eye on the price movements and make wise decisions with their investments.

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.