Uniswap price analysis shows an upward trend for cryptocurrencies today. Bulls have been able to raise the price to $5.32 in the past day despite the price has been bumping up against negative resistance for the previous few days. The support level for UNI/USD pair is currently at $5.22 and if broken there will be additional declines in the UNI price are anticipated. On the contrary side, there is a potential that the price will go up. The resistance level of $5.38 may be retargeted by the bulls, and if they are successful, the price is predicted to surge much higher.
UNI/USD is now trading above the $5.00 mark after increasing by more than 0.53% over the last 24 hours with a market capitalization of $4,052,120,722 and trading volume is currently at $39,637,657.
Uniswap price analysis on 1-day chart: After an uptrend, UNI/USD is trading at $5.32
The one-day Uniswap price analysis shows the price of cryptocurrencies has dramatically grown throughout the day, which is great news for buyers. The coin is now trading at $5.32 at the time of writing, and if bulls continue to be consistent, price levels may rise even more. The bulls have already increased the value of the currency by 0.53 percent over today, which is a significant victory. The moving average (MA) value is found to stand at $5.422, just above the current price.
Although market volatility seems to be increasing, there is likely more opportunity for the trend to shift in either direction. The Bollinger band’s upper value is 6.560, representing the resistance for UNI, whereas the lower value is 5.028, representing the strongest support for the UNI price. The Relative Strength Index (RSI) indicator is currently at 44.61, which shows a slight increase as the market is experiencing an increase in purchasing activity.
UNI/USD 4-hour price chart: Recent developments and further technical indications
The 4-hour Uniswap price analysis reveals that the bulls have been in control of the market for the last 24 hours. However, there is support at $5.22 as well, suggesting that Uniswap may hold its current position or perhaps continue to rise. The price has increased over the last four hours, as indicated by the green candlesticks. Due to the fact that buyers presently dominate the market movements, the price has nearly hit the volatility indicator’s upper limit.
The upper Bollinger band is now at the $5.410 level, and the lower Bollinger band is at $5.140. The UNI/USD price appears to be crossing over the curve of the moving average, signifying a bullish movement. Moreover, the RSI is currently trading below the 50 mark, indicating that while the near-term trend is strong, it may still correct.
Uniswap price analysis conclusion
The analysis of Uniswap’s price concludes that there is a growing likelihood that the price will increase. As the price increased to $5.32 over the past 24 hours, the bullish trend stabilized. If the buyers persist in their efforts, they will likely succeed in breaking past the resistance at $5.38 and possibly driving the UNI/USD pair higher.
Source: https://www.cryptopolitan.com/uniswap-price-analysis-2022-12-22/