UNI prices hold onto $10.22 as buyers eye a move above $11.0

TL;DR Breakdown

• Uniswap price analysis is bullish
• UNI/USD prices are trading above the support level of $10.0
• Uniswap prices are facing strong rejection at $10.53

Uniswap price analysis recently reveals that Uniswap prices have been undergoing a declining trendline since their all-time high of $24.07 on February 20. The recent recovery has been able to push prices above the support level at $10.0, with buyers now eyeing a move towards the resistance area of between $11 and $12. However, there is still some selling pressure around the current levels, with prices facing rejection at $10.53.

Uniswap trading volume is declining alongside the decline in prices. Uniswap price at the moment of writing is $10.20 which is an increase of 1.16 percent from its previous price. Uniswap price movement over the last 24 hours shows that UNI prices have tested $9.96 as the lowest price while the highest price tested was $10.53.Nonetheless, the overall devaluation of the Uniswap coin has seen the token rank position 24 in the overall digital assets.

Uniswap price action on a 1 -day price chart: UNI/USD prices look to move higher above $11.0

Looking at the 1-day price chart of UNI/USD, we can see that prices have been trading within a descending channel since February 20. However, the recent uptrend has seen prices break out of this pattern as prices rally towards $11. The breakout above the descending trendline is a bullish sign that suggests further upside in prices. The immediate resistance area is found between $11 and $12, while support is found at the $10.0 level.

The MACD indicator on the 1-day chart shows that prices are slowly recovering from their recent selloff as the MACD line (blue) crosses above the signal line (red). The RSI indicator is currently trading at 54.38, which is in the neutral zone. The moving averages are currently flat, with the 50-day MA (green) trading just below the 200-day MA (blue).

Uniswap price action on a 4-hour price chart: UNI prices face rejection at $10.53

On the 4-hour chart, we can see that prices are currently trading above the support level at $10.0. The recent uptrend has seen prices rally towards the resistance area of between $10.50 and $11.00, where prices have faced rejection. The immediate support area is found at $10.0, while resistance is found at the $11.0 level.

The RSI line is seen to be residing in the overbought region as it currently trades at 65.48. The MACD line is seen crossover above the signal line, which is a bullish sign. Prices are also trading above the moving averages, with the 50-day MA (green) trading just below the 200-day MA (blue).

Uniswap price analysis conclusion

Uniswap price analysis reveals that UNI prices are trading in a bullish trend as prices move higher towards $11.0. Prices are currently facing some selling pressure around the $10.50 level, but the recent breakout of the descending trendline is a bullish sign that suggests further upside in prices.

To conclude, Uniswap price analysis suggests that UNI prices are currently in a bullish trend as prices look to recover from their recent selloff. Prices are facing some selling pressure at $10.53 but are expected to continue higher towards the $11 and $12 resistance levels.

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