Uniswap price analysis shows that the UNI/USD pair is bullish today and looks set to continue its upward trend as the price rise continues. The meme cryptocurrency’s UNI/USD price has been on a positive trajectory since the beginning of today, rising from around $06.06 in the early hours to its current trading price of over $6.10. Resistance appears to be at the $6.26 level, if the price breaks this, it could test higher prices, while a break below $5.87 could signal a correction downward for the coin. Uniswap has increased by 2.93 percent over the past day, with an $82 million trading volume. At the time of writing, UNI had a live market cap of $4.6 billion and was ranked #18 at $6.10.
Uniswap price analysis 1-day chart: UNI is trading over $6.26 mark
The 1-day Uniswap price analysis for the UNI/USD pair shows a bullish outlook as the price is above the $6.10 level. The bulls are in full control of the market as the price is trading above both the 50- and 100-day moving averages. Additionally, if the price continues to rise and breaks through the $6.26 resistance, it might test higher prices.
The Relative Strength Index is currently at 43.01, indicating that there is more room for buyers to push prices higher. Moreover, the Bollinger band’s upper limit, which represents the biggest resistance for UNI, is present at $6.872. The Bollinger band’s lower limit, which represents the strongest support for the meme cryptocurrency, is now at $5.511.
UNI/USD 4-hour price chart: Recent developments and further technical indications
Looking at the hourly Uniswap price analysis also gives a bullish long-term outlook. The market also seems to be contracting, which might be a sign of future volatility spikes. As a result, the price of UNI is less likely to fluctuate between extremes. The Bollinger band’s upper band, or $6.529, represents the UNI price’s greatest resistance. Bollinger’s band’s bottom boundary, which represents UNI’s strongest support, is at $5.697.
The moving average is also trending upward in the hourly chart, indicating that there is a bullish sentiment surrounding Uniswap. Additionally, the relative strength index (RSI) is currently at 49.33, suggesting that buyers could be able to move prices higher in the near future.
Uniswap price analysis conclusion
In conclusion, Uniswap’s price analysis suggests that the UNI/USD pair is still on an upward trajectory and is likely to remain so in the near future. Resistance is present at $6.26 and could potentially be broken if bullish momentum continues. The RSI and moving average are also indicating that buyers are in control of the market, which could lead to a further rise in price. Investors should keep an eye on Uniswap in the coming days and weeks to see if it will continue its upward trend
Source: https://www.cryptopolitan.com/uniswap-price-analysis-2023-03-17/