UNI trades above $6.30 mark after a bullish breakout – Cryptopolitan

The latest Uniswap price analysis shows recovering prices after a minor dip past few days. The intraday charts are flashing bullish signals, and the coin has already breached the $ 6.34 mark. The market opened above $6.30 and maintained bullish momentum throughout the day. The UNI/USD pair is moving higher on the longer time frame charts. The buyers are showing strong support for the coin, which led to a spike in its price. 

The intraday support levels are now placed at $6.23, and UNI needs to clear this level for further buying pressure. The next resistance levels are pegged at $6.38, and the coin needs to break this level in order to continue the upward momentum. A break above this level could push UNI toward $6.50 in the near term.

Uniswap price analysis 4-hour chart: UNI /USD is in a bullish after breaking above $6.30

The 4-hour chart for Uniswap price analysis shows that the coin is in an uptrend after a bullish breakout from the $6.30 mark. The price has breached the ascending trendline and managed to spike higher, which confirms further buying pressure in the market. The bearish pressure that was seen in the past few days has completely been erased as buyer volume increases. The moving average indicator is also flashing bullish signals at $6.31, which is a clear indication of further upside potential.

image 124
UNI/USD 4-hour price chart, source: TradingView

The hourly chart indicators also confirm the bullish sentiment in the market. The RSI and MACD are both moving higher, showing buying pressure in the market. With the moving average converge divergence (MACD) line extending above the signal line, buyers are more likely to remain in control of the coin. The Relative Strength Index (RSI) is trading well below the 50 level, which suggests that the coin’s momentum will continue in the coming sessions.

Uniswap price analysis daily chart: UNI recovers at $6.34 after a brief dip

The daily chart for Uniswap price analysis shows that the coin is in an uptrend after recovering from its brief dip below the $6.30 mark. The buying pressure has been strong, and UNI has already breached the high of $6.34 today. The market is forming higher highs and higher lows, which suggests further upside potential in the coming sessions.

The market capitalization for UNI is currently at $4.84 billion, with an increase of 7.1% over the past 24 hours. The 24-hour trading volume is at $73 billion, suggesting high liquidity for the coin. The total supply of UNI currently stands at 1 billion tokens, with a circulating supply of 762 million UNI.

image 125
UNI/USD 1-day price chart, source: TradingView

According to the technical indicators on the daily chart, UNI is likely to remain in an uptrend. The bullish momentum will continue if the coin breaches the resistance level placed at $6.38. The MACD indicator displays a bullish crossover, which shows that buyers are in control of the market. The RSI for UNI is also trading above the below level at a level of 45.30. The moving average is currently at $6.46, which suggests that UNI will remain above this level in the near term.

Uniswap price analysis conclusion

Uniswap price analysis shows strong buying pressure pushing the coin to a high of $6.34 today. The intraday and longer time frame charts have confirmed bullish signals, which suggest further upside potential over the coming sessions. The technical indicators also suggest bullish momentum in the market as buyers are slowly taking control of the cryptocurrency. The resistance levels are currently placed at $6.38, and UNI needs to break this level in order to continue its uptrend.

Source: https://www.cryptopolitan.com/uniswap-price-analysis-2023-03-06/