Uniswap price analysis shows that the digital asset has found stability at $6.37 after receiving a bullish push from the market. The cryptocurrency is currently trading above the $6.00 level and it looks like it is preparing for another leg up in the near future. The next resistance level to watch out for is $6.37. On the downside, the strongest support levels are $5.98.
The market capitalization for UNI/USD is currently $4.7 billion. The 24-hour trading volume is $102 million. The digital asset has been on a bull run since the beginning of today and it looks like the uptrend is set to continue in the near future. Uniswap has outperformed most of its competitors in the market and it is currently one of the best-performing cryptocurrencies.
UNI/USD 4-hour price analysis: Price returns to $6.37 increasing chances for recovery
Uniswap price analysis indicates that market volatility follows an increasing trend, making Uniswap prices more vulnerable to volatile changes on either extreme. The Bollinger’s band’s upper limit is at $6.37, while the lower limit is at $5.98, with a middle line at $6.18.The UNI/USD price appears to be crossing over the curve of the Moving Average, signifying a bullish trend. Furthermore, the UNI/USD price path is moving upwards, attempting to cross the resistance, indicating bullish potential and reversal opportunities.
The RSI indicator is currently at 68.39 and meaning that the UNI/USD is stable and falls in the upper-neutral region. The RSI score appears to be following an upward movement signifying an increasing market trend towards further positive dynamics. The RSI score increases because of the dominant buying activity.
Uniswap price analysis for 1-day: Cryptocurrency follows uptrend as price trails past $6.37
The 4-hour chart for UNI/USD shows that the cryptocurrency is in an uptrend as it has broken past the resistance at $6.37. The bulls have been reigning the price chart for the past few hours and the price has undergone a sufficient improvement. The green candlestick is indicative of an upward trend as the buying momentum is intensifying.
The Bollinger bands are currently squeezed which is an indication of low volatility. The price is currently trading close to the middle line which is a sign of stability. The Moving averages are above the candlestick bodies which is a bullish sign. The RSI indicator is currently at 68.39 and it is in the upper-neutral region.
Uniswap price analysis conclusion
To sum up our today’s Uniswap price analysis, The market is currently in a consolidation phase below $6.37, however, the bulls are in control of the market as they push the prices higher. The next level of resistance is at $6.37 and if the bulls manage to break past this level, we can expect the price to rally towards $7.00. On the downside, the support levels are at $5.98, and breaking below this level could see the price retrace towards $5.50.
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