Uniswap price analysis shows UNI opened the daily market trading session at $5.35, as the bulls kept pushing higher after yesterday’s close at $5.15. The market was mostly Bearish over the past two weeks, as the UNI/USD pair fell from $8.40 to a low of $4.60 on March 26th. The bulls have been defending the $5 level for the past few days now and have pushed prices higher today. UNI/USD is currently trading at $5.43 and is facing resistance at the $5.50 level.
Uniswap price analysis shows that the market has found some support at the $5.15 level and has started to move higher. The UNI/USD pair is currently trading above the $5.35 level and looks poised to move higher. The next level of resistance is at the $5.43 level. Above this, resistance is seen at the $5.50 level. The trading volume has increased over the past 24 hours and is trading at $122,490,802 while the market cap is trading at $3,846,112,349.
Uniswap price action on a 1-day price chart: UNI/USD prices trade above $5.35
Uniswap prices formed a bullish engulfing pattern on the daily chart, indicating that the bulls are in control of the market. The engulfing candle has a high of $5.43 and a low of $5.15, which is greater than the previous candle’s high and low as per Uniswap price analysis. This suggests that the bulls are pushing the prices higher and could take them past the $5.43 resistance level. The bullish engulfing pattern indicates that the prices could surge higher in the near future. The $5.43 resistance level could be broken, which would pave the way for prices to reach new highs.
The Moving average convergence divergence (MACD) on the daily chart shows that the bullish momentum is gaining strength. The MACD line has crossed above the signal line, indicating that the bulls are in control of the market. The Relative strength index (RSI) is trading at 52.51 and is showing no signs of overbought or oversold conditions while the MA50 is seen at 5.34 and the MA200 is placed at 6.03.
Uniswap price analysis on a 4-hour price chart: UNI/USD set to break out higher
Uniswap prices on a 4-hour price chart formed a bullish trend line, which is currently providing support at the $5.15 level. The market is trading above the $5.35 level and looks poised to move higher. The next level of resistance is seen at the $5.43 level. Above this, resistance is seen at the $5.50 level as per Uniswap price analysis.
The MA on the 4-hour chart shows that the bullish momentum is gaining strength. The MA indicator is currently placed at the $5.26 level and is moving higher. The RSI is trading at 60.51 and is showing no signs of overbought or oversold conditions, while the MACD line is above the signal line, indicating that the bulls are in control of the market.
Uniswap price analysis conclusion
Uniswap prices analysis concludes that the market is in a bullish trend and is trading above the $5.35 level. The next level of resistance is seen at the $5.43 level. Above this, resistance is seen at the $5.50 level. The market looks poised to move higher in the near future as the bulls gain strength. However, a move above the $5.50 level is needed to confirm the bullish trend.
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Source: https://www.cryptopolitan.com/uniswap-price-analysis-2022-05-22/