HomeAltcoinsUniswap price analysis: Bullish spell launches UNI above $7.59

Uniswap price analysis: Bullish spell launches UNI above $7.59

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The latest Uniswap price analysis shows a massive bullish trend after the bulls reclaimed above the $7.30 level. Resistance for the coin is present at $7.74, However, a break above this level is expected to push the coin towards $8.00 and $8.10 levels in the near term. On the downside, support is present at $7.30 and a break below this level might result in a sell-off toward the $7.10 and $7.00 support levels.

Uniswap price analysis is trading at $7.59 at press time and is up by over 3.14 percent in the last 24 hours as the digital asset has a market capitalization of over $5.788 billion while the 24-hour trading volume is just over $255 million. The digital asset is likely to see some consolidation at the current levels before it can make a move toward the said target.

UNI/USD 1-day price chart: Cryptocurrency value finds recovery above $7.30

The one-day Uniswap price analysis shows signs of a slight recovery in coin value, as the price curve took an upturn in the last 24-hours. This is being confirmed by the improvement in price, as it is now standing at a $7.59 high. In the prior weeks, the bears remained in the leading position, but today, the buyers changed a bit. The price is still quite low if we compare it to its moving average (MA) value of $8.10, but the bullish wave might push it back above this level in the near term.

Uniswap price analysis: Bullish spell launches UNI above $7.59
UNI/USD 1-day price chart, Source: TradingView

The Bollinger bands are somewhat converging with the price curve, indicating a potential consolidation period in UNI’s value. The upper band is at $7.65 and the lower band stands at $5.80, creating a slight gap with the current value. The relative strength index (RSI) is also hovering around the midline of 50, showing that the coin still has some room for growth.

Uniswap price analysis: Bullish strike launches price above $7.30 hurdle

The four-hour Uniswap price analysis shows an increasing trend taking over the crypto market. The price is going high for UNI/USD, as it rose to $7.74 high in the preceding hours. The last four hours yet again proved favorable for the cryptocurrency buyers, and the green candlesticks are noticeably dominating the price chart. If we move toward the moving average indicator, it shows $149.79.

Uniswap price analysis: Bullish spell launches UNI above $7.59
UNI/USD 4-hour price chart, Source: TradingView

The RSI curve has ascended above the 50 mark, confirming buying pressure. It is currently at 58.93 and may continue to rise to show even further strength in the market. The upper band of the Bollinger bands is at $7.81 while the lower band stands at $6.72, indicating a potential breakout situation in the near term.

Uniswap price analysis conclusion

The one-day and four-hour Uniswap price analysis shows a rising possibility of an upturn in price. The bullish momentum gained stability in the past 24-hours, as the price stepped up to $7.59. Further improvement is to follow if the buyers show consistency with their efforts. The hourly price chart shows an increasing number of green candlesticks, a further indication of an upward trend.

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.

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