Uniswap Price Prediction: UNI Token Heads Towards $10 Mark, 20-DMA Is The Next Bullish Hurdle

Uniswap price is forming a high-low price pattern nowadays.
A key selling level for bears near the resistance trendline is on either the lower or higher time frame.
Trading volume soared 27% overnight, with traders clocking in at $101.3 million.

After a weekly dip, the Uniswap coin is back on track. Buyers are anticipating a wild ride beginning in September. Although it is not a substantial bounce, it assists purchasers in generating an optimistic mood in the midst of the crypto meltdown.

This week, buyers retrieved 1.84% of the cost, which was established following two red candles. On November 9, the Uniswap token price has dropped to a five-month low of $4.71. This level of support serves as a boosting zone for the near term view, with buyers placing big buy orders at this level. Later, buyers attempt to alleviate selling pressure by maintaining the live current value just above monthly low.

UNI token together with USDT is trading at $5.54 mark at press time. Buyers observe aggressive today, resulting in, daily price candle that is up 2.4%. The Correlation Coefficient indicator stays at 0.81 level at the time, which suggests that Bitcoin is leading the UNI token’s trend in November. Thus, the Uniswap price belonging to the Bitcoin pair is green 1.97% at 0.0003341 satoshis.

Trading volume is low compared to the last week, last week showe extreme volatility among pump and dumps in UNI token. Meanwhile, volume increased 27% overnight while traders saw it at $101.3 Million.

On daily price scale, UNI token is still remaining below all significant moving averages like 20,50,100 and 200. Now buyers are expecting 20 DMA breakout as their first preference. Amid positive vibes, RSI indicator and ADX indicator favor bulls.

Conclusion

The Uniswap token price is trading near below the 20 day moving line, bears may attempt selling at this point. ADX is present in a bullish way while bulls are accumulating the altcoin above $5.0 support level.

Support level – $5.0 and $3.5

Resistance level – $8.0 and $10

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.