Uniswap price analysis is on a bullish trend today, with the UNI/USD pair rising to the $6.63 mark. The bulls have been in control of the market since the beginning of today, and it appears that they have no intention of stopping anytime soon. The market sentiment is currently positive, with traders expecting further pushing today, with the UNI/USD pair rising to the $6.63 mark. The price of the token has surged from $6.60 to around $6.63 at present, representing an increase of over 8.6%.
The resistance for UNI/USD pair is at $6.77 and a break above this level could lead to a move toward the $6.70 mark. The support is at $65 and a break below this level could result in the price falling back to the $60 level. The 24-hour trading volume of Uniswap is over $135 million, which is an impressive figure given the current market conditions, while the market capitalization has increased to $5.05 billion.
Uniswap price analysis 1-day chart
The 1-day Uniswap price analysis shows a bullish trend, with the UNI/USD pair currently trading at $6.63, representing an increase of over 4% in the last 24 hours. The market volatility follows a slightly closing movement, and the cryptocurrency is less vulnerable to volatile change on either extreme. The upper limit of Bollinger’s band is present at $6.729, which serves as a resistance point for UNI. Conversely, the lower limit of Bollinger’s band is currently at $5.046, which serves as another support point for UNI.
The relative strength index (RSI) index is currently at 59.98, which indicates that the bullish trend is not yet over as the index is still in its buying zone. Moreover, the moving average convergence and convergence (MACD) line is currently above the signal line, indicating that the market is in a buying mode.
UNI/USD 4-hour price chart: Latest development
The 4-hour chart has shown a strong uptrend, with the price having broken through multiple resistance levels. According to the positive momentum, the price has effectively recovered over the $6.63 margin, and it appears that it may break through the $6.7 level soon. All in all, Uniswap’s current price action indicates that it is in a bullish trend and that it has the potential to reach new highs in the near future.
The Relative Strength Index (RSI) is currently at 60.99, indicating that the overall market sentiment is positive and that the bulls are in control of the market. The MACD line is also above the signal line, indicating that buyers have been dominating the market. The market volatility appears to be following an upward direction, and the trend will likely have more room to move toward either extreme.
Uniswap price analysis conclusion
In conclusion, Uniswap’s price analysis shows that the cryptocurrency is currently in a bullish trend and has the potential to reach new highs in the near future. The current price action suggests that Uniswap is likely to break through the $6.63 mark in the near future and that it is likely to experience further growth as long as the market sentiment remains positive.
Source: https://www.cryptopolitan.com/uniswap-price-analysis-2023-01-21/