UNI/USD Smashes Through $6.500 Resistance Level

UNI/USD has been in an uptrend after the market finds its support at $5.282 on the 21st of September. The market for that particular day was a very rough fight between bears and bulls, but eventually, the bulls won. Since then bulls have been in control of the market as they drive the price to the upside. In today’s market, the bullish momentum increased greatly as the price broke through two major resistance levels

 Uniswap Market Price Statistic:

• UNI/USD price now: $6.594
• UNI/USD market cap: $ 5,022,136,303
• UNI/USD circulating supply: 762,209,326.54
• UNI/USD total supply:1,000,000,000
• UNI/USD coin market ranking: #17

Key Levels

• Resistance: $ 6.827, $7.000, $7.250
•  Support: $5.658, $5.282 $5.000

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Uniswap Market Price Analysis: The Indicators’ Point of View

In a broad view, the market is trying to come out of the downtrend and it has taken major steps towards achieving this. The MACD line has crossed the signal line in the negative zone and both lines are making effort to rally to the upper levels of the indicator. The momentum of the MACD line is increasing as the signal line follows along. RSI line now measures 57%. The market is not about to relent in momentum.

 UNI/USD 4-Hour Chart Outlook 

Even in this shorter timeframe, the market still shows strong bullish momentum as we look at the first two trading sessions of today’s market. It is in the third session that we see that buyers and sellers are becoming evenly matched in their struggle for market dominance. This, however, does not mean the trend will reverse. The RSI line (in this point of view) is trying to correct itself from the overbought. But, the signal line of the RSI is still rising

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