Uniswap price analysis shows signs of an uptrend, as the price underwent a further increase in the last 24 hours. The price is on its way towards revival and has recovered up to the $6.70 mark during the day as the bullish trend has gained stability. The past week has proved to be highly supportive for the buyers. A constant uptrend has been on the rise, and a similar trend is observed even today. Further recovery is possible if the buyers remain persistent with their efforts.
Uniswap has started a week with a positive note as the prices have increased by a small margin. The market is expected to show some positive movements in the near future as the buyers have taken control of the prices. The current market scenario is highly bullish, and a breakout above the resistance level of $6.78 can provide further momentum to the prices.
UNI/USD 1-day price chart: Bulls continue to push prices higher as altcoin hits $6.70
The one-day Uniswap price analysis confirms a bullish trend for cryptocurrency, as the UNI/USD value, has increased significantly. A considerable degree of increase in coin value is being detected due to emerging bullish efforts. The price is now standing at $6.70, as the coin gained 4.03 percent value during the last 24 hours, and the weekly trend line is also going upwards. The moving average (MA) is present at the $6.69 level.
The volatility is high as the upper end of Bollinger Bands Indicator is now at $6.78 position, representing the resistance, whereas the lower band is standing at $6.41 position representing the strongest support for Uniswap. The Relative Strength Index (RSI) score hasn’t increased much, and the indicator is trading at an index of 49.97 in the upper half of the neutral range.
Uniswap price analysis on a 4-hour price chart: UNI/USD set to break out higher
The four-hour Uniswap price analysis also dictates an uptrend as the bulls have been maintaining their lead quite efficiently. Although the bulls managed to upgrade coin value in the earlier hours of the day, the price increments have slowed down now. This has resulted in the price floating at the $6.70 mark, encouraging the buyers. If we discuss the moving average indicator, then its value is currently $6.61.
The Bollinger bands average has moved up to $6.77 because of the constant increasing trend. The upper band of Bollinger Bands Indicator is now touching the $6.42 mark, and the lower band is touching the $57.9 mark indicating high volatility even on an hourly basis. The RSI curve is moving horizontally as the score is now 57.39 near the border of the overbought region.
Uniswap price analysis conclusion
Uniswap price analysis shows that Uniswap price is expected to continue its upward move as the bulls remain in control of the market. The next target for the bulls is seen at $6.78, and a breakout above this level can lead to further gains in the coin’s price. On the downside, the major support is seen at $6.41, and a break below this level can invalidate the bullish trend. In such a case, the prices may drop to the $6.20 level.
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Source: https://www.cryptopolitan.com/uniswap-price-analysis-2022-10-04/