Uniswap price analysis: UNI/USD rises to $9.22 after a massive bullish run

Recent Uniswap price analysis shows that the UNI/USD pair has been on a strong uptrend, rising from $8.16 to $9.22. This bullish run has been fueled by increased buying pressure and positive sentiment in the market.

However, prices are now facing some resistance at the $9.25 level, which could limit the upside potential in the short term. Nevertheless, the overall trend remains bullish and there is scope for further gains in the medium-to-long term. Support for the UNI/USD pair is currently at $8.16 and if prices can hold above this level, we could see further upside in the near future.

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Uniswap price action on a 1-day price chart: UNI/USD prices trade above $9.22

Uniswap price analysis on 24-hour is bullish as the price is up by 9.85 percent. The digital asset surged higher yesterday as it broke out of the descending triangle pattern. The market cap for the digital asset stands at $6,900,622,343, and the 24-hour trading volume is $$194,393,200. 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.

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UNI/USD 1-day price chart, Source: TradingView

UNI/USD indicators on the 24-hour time frame are currently giving bullish signals as the MACD is in the positive territory and is above the signal line, while the RSI is also in the overbought region and it is currently trading at 61.65. The SMA50 is above the SMA200, which is a bullish sign.

Uniswap price analysis on a 4-hour time frame: UNI/USD retraces from highs as bulls take a breath

Uniswap prices surged higher on the 4-hour time frame, but have retraced slightly as the bulls take a breath. The prices are trading just below the $9.25 resistance level and could resume their uptrend If this level is broken, the prices may rise to the $9.50 level.

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UNI/USD 4-hour price chart, Source: TradingView

The Moving Average Convergence Divergence (MACD) on the 4-hour time frame is currently in the bullish territory and is currently at 0.0019. The Relative Strength Index (RSI) is currently above the 50 levels and it is currently trading at 60.34. The SMA50 is currently at $8.99 and the SMA200 is at $8.57, which is a bullish sign.

Uniswap price analysis conclusion

The overall trend for UNI/USD remains bullish and there is scope for further gains in the near future. Prices are currently facing some resistance at $9.25, but if this level is broken, we could see prices rise to $9.50. Support for the pair is currently at $8.16 and a break below this level could see prices retrace to $7.50.Both 24-hour and 4-hour time frames are giving bullish signals as the indicators are currently in positive territory.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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