Uniswap price analysis shows a complete bullish trend in the market as the prices went up by 1.08 percent in the last 24 hours. The coin is trading at $6.18 and is facing immediate resistance at $6.38. On the other hand, it has strong support near $5.97. The Uniswap price analysis shows that if the bulls remain in control, the prices may see an upsurge and touch $7 levels. On the other hand, a bearish crossover may lead to a drop in prices and it may find support near $5.50 levels.
The UNI/USD pair price has increased in the last 24 hours and currently, it is trading at $6.18. The market capitalization of the coin has also decreased to $4,536,163,754 and the 24-hour volume traded in the market is $175 million.
Uniswap price action on a 1-day price chart: UNI/USD forms a bullish engulfing pattern
The daily price chart for Uniswap price analysis shows that the prices have formed higher highs and higher lows to indicate a bullish trend in the market. UNI/USD pair is likely to retrace lower as it faces some resistance at $6.38. and support of $5.97.The bullish engulfing pattern indicates that the bulls are in control of the market as the buyers are stepping in after the recent sell-off.
Furthermore, the moving averages are also indicating a bullish crossover as the 50-day SMA line (blue) has crossed above the 20-day SMA line (red). The RSI indicator is currently trading at 70 levels, with no major overbought or oversold conditions. The MACD indicator is also indicating a bullish trend as the signal line (blue) has crossed above the histogram.
Uniswap price analysis on a 4-hour time frame: Bears emerge as UNI/USD prices trade near $6.18
The 4-hour price chart for Uniswap analysis shows that the digital asset is trading in a bearish trend as it formed lower highs and lower lows. The bears have emerged as the prices retrace lower after the recent upsurge. The buyers on a 4-hour time frame are likely to face some resistance near $6.38 and support near $5.97.
The RSI indicator is currently trading at 54 levels, with no major overbought or oversold conditions. The MACD indicator is also indicating a bearish trend as the signal line (blue) has crossed below the histogram. The 50-day SMA line (blue) is moving above the 20-day SMA line (red), which is a bullish sign.
Uniswap price analysis conclusion
To conclude, Uniswap price analysis shows that the prices are trading at crucial levels as the one-day chart UNI/USD is indicating a bullish trend, while the 4-hour time frame is showing a bearish trend. The digital asset may see some selling pressure near $6.38 levels and the buyers may emerge near $5.97 levels. The Uniswap price analysis shows that the bears will remain in control.
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