There are currently positive indicators in the Uniswap price analysis. The bulls successfully diverted the price function, quickly moving the price from $5.30 to $5.33, and today’s price is now covering the range higher. Given the recent two days’ steep corrections brought on by selling pressure, yesterday’s price function was also downward. There will likely be a price increase for the UNI/USD due to the current positive market attitude.
UNI/USD 1-day price chart: Bulls are striving to takeover the price movement
According to the 1-day Uniswap price analysis, bulls regained the price up to the $5.33 level today, which is a good development after suffering through severe losses the previous day and the day before. Despite the price increase, the coin is reporting a loss of 1.16 percent over the last 24 hours, although it has marginally increased by 0.21 percent over the previous seven days. The cryptocurrency now has a 0.26 percent dominance despite a 27 percent decline in trading volume.
The UNI/USD pair has considerable volatility, with the upper band at $6.47 suggesting resistance for the cryptocurrency and the lower band at $4.98 representing support for UNI/USD. The Bollinger bands are stretched over a larger area. While at the $5.73 level above the SMA 20 level, the average of the Bollinger bands is forming.
The relative strength index (RSI), which is currently trading at 38, is present in the neutral zone’s lower half and has a flat curve. The signal indicates a sizable window for a run in the bullish direction, but its curve may turn upwards over the day.
Uniswap price analysis: Recent developments and further technical indications
The price started recovering during the last four hours of the previous trading session after the significant correction seen previously, as shown by the 4-hour Uniswap price analysis, which also indicates the bullish momentum is currently building. The market’s selling pressure is still there, and despite this, it is anticipated that the coin’s price will go higher today, breaking through the bearish resistance.
Bollinger bands are occupying more space on the 4-hour chart for the UNI/USD pair, creating a mean average line at $5.48 above the price level and signaling selling pressure for the cryptocurrency pair. The upper band is at $5.74, representing UNI resistance, and the lower band is at $5.23. Because of the recent buying activity, the relative strength index (RSI), which is currently trading at an upward slope at index 36, is hinting at a bullish revival under process.
Uniswap price analysis: Conclusion
The bulls are making good progress upward, according to the Uniswap price analysis. The price of UNI may increase past the $5.37 local barrier level if buyers offer sufficient support. However, there is currently some selling pressure, and for the UNI bulls to break through, they need more support.
