Uniswap price analysis shows a full uptrend in the market as the price is up 3.07% in the last 24 hours. The coin is trading at $5.41 and faces immediate resistance at $5.47. On the upside, there is a strong support near $5.04. Uniswap’s price analysis shows that if the gains stay contained, the price could rise and reach the $5.60 level. On the upside, a bearish crossover could lead to a decline and could find support near $4.80.
The UNI/USD pair gained 3.07 percent in the last 24 hours and is currently trading at $5.41. The coin’s market cap also increased to $3,972,059,387 and the 24-hour trading volume on the market was $136,376,426.
Uniswap price action on 1-day price chart: UNI/USD price trades above $5.41
The Uniswap price analysis daily price chart shows that the price has formed higher highs and higher lows to indicate an uptrend in the market. The digital asset rose yesterday after exiting the descending triangle pattern. The UNI/USD pair is likely to move lower again as it faces resistance at $5.47. and support at $5.04. The bullish engulfing pattern indicates that the bulls are in control of the market as buyers enter after the recent sell-off.
Moreover, the moving averages are also showing a bullish crossover as the 50-day SMA line (blue) crosses the 20-day SMA line (red). The RSI indicator is currently trading at 70 levels with no serious overbought or oversold conditions. The MACD indicator also shows an uptrend as the signal line (blue) has crossed the histogram.
Uniswap price analysis 4 hour time frame: UNI/USD retraces highs as bulls catch their breath
The 4-hour UNI/USD price chart shows that the price has retreated from recent highs as buyers take a breather. The price is currently trading near its 20-day SMA and the RSI indicator also trading near overbought levels. However, there is no bearish crossover yet and the price could continue to rise. The MACD indicator is moving above the signal line and histogram, which is a bullish sign.
Conclusion of Uniswap price analysis
In summary, Uniswap’s price analysis suggests that prices are likely to fall in the short term, but gains are likely to remain subdued. The UNI/USD pair is gaining bullish momentum and is currently trading at $5.41. The UNI/USD pair could drop from current levels, but is likely to find support near $5.04.