UNI/USD rises to $7.07 after a massive bullish run

Uniswap price analysis shows that the UNI/USD pair has been on a bullish run since yesterday, and it has now risen to $7.07. The prices are facing resistance at $7.26, and if they can break above this level, then we could see further gains in the near future. However, if the prices fail to break above this resistance, then we could see a pullback towards the support at $7.02.

The digital asset is currently ranked at number 14 on CoinMarketCap, with a market capitalization of over $5.2 billion. The 24-hour trading volume for the coin is currently at $130 million, and the UNI token has gained over 0.01 percent in the last 24 hours.

UNI/USD 4-hour price chart: Recent developments and further technical indications

The hourly, Uniswap price analysis shows that the market is following a bearish trend in the short term. The prices have slipped below the $7.07 mark and are currently facing resistance at $7.26. The bear and bulls are currently battling it out for control of the market, and it remains to be seen who will come out on top.

The Relative Strength Index is currently at 56.02, and it seems to be heading towards the oversold region. This could mean that we could see a pullback in prices in the near future. However, the MACD indicator is currently in the bullish zone, which indicates that the bulls might be able to push the prices higher. The 20-day simple moving average is currently at $6.91, and the 50-day simple moving average is at $6.62.

Uniswap price action on a 1-day price chart: UNI/USD prices trade above $7.05 Mark.

On the 1-day Uniswap price chart, we can see that the prices have been following a bullish trend since early today but have recently pulled back slightly. The prices are currently trading above the $7.05 mark, and if they can sustain this level, then we could see further gains.

The Relative Strength Index (RSI) score for UNI/USD is currently at 54.50, as the past few hours have been fairly volatile. The MACD indicator is indicating a bearish trend in the market, as the MACD line has crossed below the signal line. The 20-day simple moving average and the 50-day moving average are both showing a bearish trend in the market, as they are currently trading above the prices.

Uniswap price analysis conclusion

Overall, the Uniswap price analysis shows that the UNI/USD pair is currently in a battle between the bulls and the bears. The 1-day timeframe shows that the market is currently in a bearish trend, but the 4-hour timeframe suggests that the bulls might be able to take control of the market. For now, we will wait for the prices to break out of the current resistance levels before taking any further action.

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.