Uniswap price analysis shows a complete bullish trend in the market as the prices went up by 0.08 percent and it is currently at the $7.12 mark. The coin is facing immediate resistance at $7.21. On the other hand, it has strong support near $6.86.
The Uniswap price analysis shows that if the bulls remain in control, the prices may see an upsurge and touch $8 levels. On the other hand, a bearish crossover may lead to a drop in prices and it may find support near $5.50 levels. The market capitalization of the coin has also increased to $5,302,595,318 and the 24-hour volume traded in the market is $158 million.
Uniswap price action on a 1-day price chart: UNI/USD forms a bullish engulfing pattern
The daily price chart for Uniswap price analysis shows that the prices have formed higher highs and higher lows to indicate a bullish trend in the market. The bullish engulfing pattern indicates that the bulls are in control of the market as the buyers are stepping in after the recent sell-off.
Furthermore, the moving averages are also indicating a bullish crossover as the 50-day SMA line (blue) has crossed above the 20-day SMA line (red). The RSI indicator is currently trading at 70 levels, with no major overbought or oversold conditions. The MACD indicator is also indicating a bullish trend as the signal line (blue) has crossed above the histogram.
Uniswap price analysis on a 4-hour time frame: Recent updates
The 4-hour price chart for Uniswap analysis shows that the digital asset is trading in a bull flag pattern which is a continuation pattern. The prices have recently retraced from the all-time high of $8.32 and found support near the 20-day SMA line.
The Relative Strength Index (RSI) indicator is currently trading above the 50 levels, with no major overbought or oversold conditions. The MACD indicator is at neutral levels and is not giving any clear trading signal.
Uniswap price analysis conclusion
Overall, Uniswap price analysis shows that the digital asset is in a bull run and the prices are expected to see an upsurge in the next 24 hours. The Technical Indicators on both charts are also indicating a bullish trend. The market sentiments are also in favor of the bulls as the majority of the leading cryptocurrencies like Bitcoin, Ethereum, and Litecoin are trading in the green. Therefore, we can expect UNI/USD prices to touch $8 levels in the next 24 hours.
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.
Source: https://www.cryptopolitan.com/uniswap-price-analysis-2022-08-20/