UNI price surges by 4 percent as it hits $5.92

The Uniswap price analysis is indicating an increase in price levels for today. The price levels have moved up to meet the $5.92 level, which is a relatively positive indication for buyers as the price has increased. Furthermore, there have been ongoing variations in the price trends that have lasted for a while, and the bulls have finally secured their leading position once again.

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Cryptocurrencies price heat map,Source: Coin360

The Resistance for the UNI/USD pair is seen at the $5.97 level, and support is present at the $5.63 level. Uniswap price analysis shows that the digital asset has started gaining some momentum as the trading volume is currently at $110,651,126. UNI is ranked at position 19 in the market with a total market capitalization of $4,501,676,384.

Uniswap price analysis on a daily timeframe. UNI/USD continues bullish flight as price touches $5.92

The daily Uniswap price analysis confirms a strong bullish trend for the market today as the price covered an upward movement in the past 24 hours and gained 4 percent. The buyers have been controlling the price trends for the past week as a significant rise in the UNI/USD value has been observed. The bullish price curve just reached the $5.97 peak during the day because of the stronger pressure from the buyers’ end. The Moving Average (MA) stands at $5.90, quite lower than the current price.

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Source: Trading View

Moving on towards the Bollinger Bands Indicator, the upper band touches the $5.97 end, whereas the lower band touches the $5.63 extreme, indicating the strongest support for the cryptocurrency, whereas the price has shooted past the upper limit of the volatility indicator. Lastly, the Relative Strength Index (RSI) graph shows an ascending curve, and the score has reached 41.63 indexes traveling towards the overbought area.

Uniswap price analysis 4-hour price chart: Bulls remain successful in crossing $5.97 resistance

The four-hour Uniswap price analysis leads the buyers as the price continues to surge for the past few hours. Overall, the bulls remained dominant during the day, completely sidelining the bears. The coin value has rallied to its former height, i.e., $5.92, as the bulls have been defining the price path for the past 4 hours. Yet, the moving average stands at $5.94, and the price is currently trading above this level.

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Source: Trading View

The Bollinger bands are seemingly expanding as the volatility is increasing, which should be taken as a positive hint regarding future trends. The upper Bollinger band displays a $5.90 figure which is below the current price level, whereas the lower Bollinger band is present at a $5.76 level. The RSI has entered the overbought region, and the score has touched 51 markers.

Uniswap price analysis conclusion

Daily and hourly Uniswap price analysis show a solid bullish inclination for the day, as recorded a rise in UNI/USD market value. The price successfully reached $5.92 high and a further improvement in coin value seems possible. We expect UNI/USD to continue upside down for today as the bullish momentum intensifies with each passing hour.

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.

Source: https://www.cryptopolitan.com/uniswap-price-analysis-2022-09-23/