TL;DR Breakdown
- Uniswap price analysis shows a bullish movement
- The UNI/USD pair price has surged upwards, reaching the $6.50 level
- The support for Uniswap is seen at $6.04
The Uniswap price analysis indicates an increase in price levels for today. The price levels have moved up to meet the $6.50 level, which is a relatively positive indication for the buyers as the price has increased. Furthermore, there have been ongoing variations in the price trends that have lasted for a while, and the bulls have finally secured their leading position once again.
The bulls are inclined towards taking the price further above the current price value to keep maintaining their bullish curve that has been continuing for the past few hours. The bulls have played swiftly as they have dodged past the bearish momentum that had interrupted their streak the previous week.
Uniswap price analysis 1-day chart: Bulls are struggling to break out of the $6.59 resistance.
The Uniswap price analysis for the 1-day chart shows that the bulls have been struggling to gain momentum, even though the price had seen a surge of 4.28% yesterday. The market is currently trading within an ascending channel, and there has only been a slight movement in its value at the time of writing. The support levels are seen at $6.04, which is the previous week’s low. The bulls have been trying to break out of the $6.59 resistance, which has been acting as a strong barrier for them.
UNI/USD 24-hour price chart, source: TradingView
The daily technical indicators on the chart are also showing that the bulls are still trying to gain control over the market as they continue to push prices up. The volatility is high, with the average line of the indicator forming at $6.29. The Bollinger band upper band is showing a value of $7.04, which is slightly higher than the current price value of Uniswap, while the lower band is showing a value of $5.55, which can be seen as the support for the bulls if they fail to break out from the current resistance. The RSI value of Uniswap is also seen at 50.73, which is a slight indication that the bulls still have more strength left to push prices up.
Uniswap price analysis: UNI is at $6.50 after seeing a bullish momentum
The 4-hour Uniswap price analysis is indicating that the bullish momentum has resulted in a slight increase in the price value. The price has increased up to $6.50 after overcoming an in week-long bearish pressure. The green candle is seen on the 4-hour chart as it reflects a surge in buying pressure.
UNI/USD 4-hour price chart, source: TradingView
The moving average (MA) is also at a lower height as compared to the current price and is present at $6.16. Also, the Bollinger bands values in the 4-hour price chart are as follows; the upper Bollinger band is at $6.56, whereas the lower Bollinger band is at $5.17, respectively. The RSI index has increased as well because of the ongoing bullish trend and has gone up to index 60.61, just above the centerline of the neutral zone.
Uniswap price analysis conclusion
Uniswap price analysis indicates that after a week-long bearish pressure, the bulls have finally taken control of the market and are pushing prices upwards. The chart indicates a bullish movement for Uniswap, and with some more positive news, it could go even higher in the near future.
