UNI/USD next target at $22.91

TL;DR Breakdown

• Uniswap price analysis appears to be bullish.
• UNI/USD is currently trading at $19.13.
• UNI/USD has solid support at $16.7.

UNI/USD price predictions indicate that the market is presently in a positive trend and will reach its goal soon. On January 3, 2022, Uniswap rose rapidly, from $18.3 to $19.1, but the cryptocurrency was unable to hold it and dropped to $17.8 the same day. The market is now experiencing a recovery, and it is expected to continue expanding.

The price has broken $19.9 without difficulty and stopped just before the resistance at $20.1. This may indicate that it is unlikely that prices will fall below $16.7 soon and resume their positive trend.

The Relative Strength Index (RSI) is producing a mostly neutral signal for UNI/USD. The current value of 51.68 suggests that market momentum is currently neutral. A bearish or bullish divergence can be seen on the chart at this time. A bearish divergence shows up as downward price action even as oscillator prices strengthen and implies that bulls are losing strength in the short term.

There may soon be an upward movement to indicate that bears are becoming exhausted. However, it may then be possible for bulls to take over again and push the coin higher towards its 200-day MA at $22.91 or its 50-day MA at $20.62. The current price action suggests a bullish trend, but a bearish divergence appears on the RSI, indicating that selling pressure increases and may push prices down in the short term.

A bullish signal was issued when UNI/USD closed above its resistance at $19.9, confirmed with its next closing above this level on January 3rd. A buy signal was also issued when it found support at its long-term downside 1.414 Fibonacci Extension level priced at $16.7.

UNI/USD 4-hour price analysis: UNI set to spike higher

Predicting Uniswap price prediction indicates that market volatility is following trend decline, making Uniswap prices more vulnerable to volatile changes. The upper limit of the Bollinger band is available at $18.9, which acts as the strongest resistance. The lower limit for the Bollinger band is available at $16.7, which serves as the strongest support.

UNI/USD 4-hour price chart source: Trading view

The Relative Strength Index (RSI) is 52, signifying a stable value for the cryptocurrency. This means the value of Uniswap falls neither on the overvalued category nor the undervalued slot. The RSI can be seen following a stable straight path which means the price of Uniswap isn’t likely to fall on either extreme.

Uniswap Price analysis: Conclusion

Today’s Uniswap price analysis shows bullish momentum for this crypto asset. The market cap of Uniswap may increase in value in the coming weeks and break above $20. If it breaks above $20, continued bullish momentum may see Uniswap reach its next resistance level at $22.91.

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.