A significant price increase has been observed today, and the Uniswap price analysis shows a strong bullish trend. According to the most recent update, buyers are winning since they are dominating the market. The price has reached the $5.20 level and is headed over to the present resistance at $5.29 as a result of sustained aggressive bullish price action over the last few hours.
UNI/USD 1-day price chart: Upward momentum brings more gains
Given that the price has increased more than anticipated, the 1-day price chart for Uniswap price analysis is moving in a bullish trend for the day. The coin’s value has increased dramatically, and it keeps getting higher by the hour, to the point where it is now worth $5.20. The coin’s value increased by a respectable 1.06 percent during the course of one day, and it has increased by 1.92 percent over the previous seven days. The moving average (MA), which is currently trading at $5.11, is still below the SMA 50 curve.
On the other hand, the volatility is high, which has provided the chance for the bulls to surge the price levels. Meanwhile, the Bollinger bands are showing their upper value at $5.66, which represents the strongest resistance for UNI, and their lower value at $4.90, which represents the strongest support. The Relative Strength Index (RSI) score is also reaching higher heights, i.e., index 44; though still in the lower half of the neutral range, the curve is upwards, indicating buying activity.
Uniswap price analysis: Latest developments and further technical indications
The 4-hours Uniswap price analysis is also indicating that a steady increase in the price was noted at the start of the trading session, However a low swing was also observed towards the $5 mark, but the price retraced upwards soon. Currently the price is decreasing again as the coin is retesting the $5.20 resistance at the moment, and the bulls are expected to return again in the coming hours. The price has slightly decreased back to $5.19 mark as the selling pressure is present at the current price level.
The moving average (MA) value of $5.14 is above the Bollinger bands mean average line, which is forming at the $5.12, as the bulls have taken the price near the upper limit of the volatility indicator, and the Bollinger bands are slowly moving upwards. The RSI score has also shifted towards the declining movement, and it has decreased to index 57 as its curve is pointing downwards.
Uniswap price analysis conclusion
The bulls are exhibiting excellent performance, according to the 1-day and 4-hour Uniswap price analysis. They have raised the price levels to $5.20 and are attempting to make up for the losses they suffered over the previous week. The $5.29 resistance level appears to be in play for the price to cross in the ensuing hours.
