Uniswap price analysis is bullish today as the market continues to push upwards. The UNI/USD pair is trading at $6.54, up 0.02 percent in the last 24 hours and 2.3% since the start of the week. Moreover, bulls have attempted to break the $6.69 resistance but have been unsuccessful so far due to intense selling pressure on the upside trend line. However, the pair has found strong support around $6.36, and buyers are expected to place their bids around this level in order to push prices higher. The 24-hour trading volume has declined by over 3.79% and is now at $109 million, while the market capitalization for the UNI/USD pair is trading at $4.97 billion.
Uniswap price analysis 1-day chart
The 1-day Uniswap price analysis shows that the bulls have been gradually pushing the UNI/USD pair higher since the beginning of today. Moreover, a strong bullish trend line has formed, and bulls are attempting to break above the $6.69 resistance. If the bulls can break above this level, then the pair may continue to climb toward its all-time high at $6.76. On the other hand, if the bulls fail to break above $6.69, then the pair will likely drop back down toward its support level at $6.36. The UNI/USD pair has seen an impressive rally as it has gained more than 0.02% since the beginning of today and is currently trading at $6.54.
The technical indicators also point to a strong bullish trend in UNI/USD. The moving average convergence and divergence (MACD) is currently trading in positive territory and is rising steadily. The moving average (MA) indicator is also showing a bullish crossover and suggests that the bulls are in control of the market. The relative strength index (RSI) is also in the overbought zone, which indicates that traders are currently bullish on the coin and could continue to drive the price up further.
UNI/USD 4-hour price chart: Recent updates
The 4-hour Uniswap price analysis shows that the pair has been trading in a tight range between $6.53 and $6.54 since the start of today. Furthermore, an ascending triangle has formed, and bulls are attempting to break above the $6.69 resistance level in order to push prices higher. The bulls are trying to take control and break above the opposition, while the bears are trying to defend their position.
The Relative Strength Index (RSI) score is increasing at a faster pace and has reached an index of 60.77, which indicates that the market is currently in a bullish state. The moving average indicator is currently in the bullish zone, as the 50 SMA is located above the 200 SMA. The 50 SMA is currently at $6.528, while the 200 SMA is at $6.523 on the 24-hour chart. Furthermore, the moving average convergence and divergence (MACD) line is above the signal line, indicating bulls are still in control of the market.
Uniswap price analysis conclusion
In conclusion, Uniswap’s price analysis shows that the bulls are in control of the market and are likely to continue raising prices in the near term. The bulls are also supported by technical indications. The level of $6.54, which appears to be on an upward trend and might hit a new high if it manages to break through the $6.69 level, is the next aim, therefore, we may expect a short-term increase in price.
