UNI/USD to retest resistance at $10.78, as bulls have the upper hand

TL;DR Breakdown

• Uniswap price analysis is bullish
• Support for UNI/USD present at $10.39
• Firm resistance has been seen at $10.78

The Uniswap price analysis shows that Uniswap prices opened the trading session at $10.39 on March 26 and reached a high of $10.78 before retracing to close at $10.77. Today, Uniswap prices have been consolidating in a tight range between $10.39 and $10.78.The prices are up by 1.17 percent in the last 24 hours, with a trading volume of $164,491,670.45, recording a decline of 30.16 percent.

Uniswap price analysis reveals that Uniswap prices have established a firm resistance at $10.78 and are currently retesting this level. If prices fail to breakout above this resistance, a sell-off could ensue that takes prices back down to support at $10.39. However, if the bulls manage to push prices above $10.78, we can expect an upward price movement that could take Uniswap prices to highs of $11.17.The Uniswap price analysis shows that support levels for UNI/USD lie at $9.80, $9.50, and $9.20 while resistance levels are at $10.78, $11, and $11.17.

Uniswap price action in 1-day price chart: Bullish opportunities available

The Uniswap price analysis on a 1-day price chart reveals that Uniswap prices have been following an ascending parallel channel since March 15. After breaking out of the descending triangle pattern on March 20, Uniswap prices have been on a steady uptrend. The MACD indicator is currently in the bullish zone with its signal line crossing above the MACD line, indicating increasing bullish momentum in the market. The RSI indicator is currently at 65.78 and is slowly headed towards the overbought region, which could signal a possible price correction in the near future.

Uniswap market volatility has been on the rise over the past few days, as seen by the increase in the ATR. The market is expected to remain volatile in the near future as bulls and bears battle for control of the market. The Bollinger bands are currently expanding, which could signal an increase in market volatility in the near future.

Uniswap price action on a 4-hours price chart: Recent developments and further technical indications

The Uniswap price analysis on a 4-hours price chart reveals that the market is currently trading above the 20-period and 50-period moving averages, indicating that the bulls have the upper hand in the market. The MACD indicator is currently in the bullish zone with its signal line crossing above the MACD line, indicating increased bullish momentum in the market. The RSI indicator is currently at 61.33 and is slowly headed towards the overbought region, which could signal a possible price correction in the near future.

Uniswap prices are headed upwards as the Parabolic SAR indicator has reversed from a bearish to a bullish trend. The Awesome Oscillator is currently in the green zone, indicating increased bullish momentum in the market. Moreover, the market volatility for UNI/USD prices on the 4-hour chart is likely to increase in the near future as the Bollinger bands are currently expanding.

Uniswap price analysis conclusion

The UNI/USD price analysis shows that while the market is currently in a bullish trend, we could see prices retrace to support at $10.39 if bulls fail to push prices above resistance at $10.78. However, if the bulls are able to push prices above $10.78, we could see an upward price movement that takes Uniswap prices to highs of $11.17.The market volatility is expected to increase in the near future as the Bollinger bands are currently expanding.

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