Uniswap price analysis: UNI breaks above $14. Will the bullish momentum sustain? https://ift.tt/3p7xhMH

TL;DR Breakdown

• Uniswap price analysis is bullish today.
• Resistance is present at $16.
• The support is present at the $14.9 level.

The Uniswap price analysis reveals UNI/USD is in bullish momentum. The price has been continuously rising for the second day now. The bullish momentum has helped the cryptocurrency in gaining significant value, as the price has been rescued from sinking further down. Resistance for UNI/USD is present at $16; in contrast, support is solid at $14.9. However, the upwards price function has been challenged by the bears as a substantial decrease in price has been observed in the last four hours.

UNI/USD 1-day price chart: Bulls to defend $14.9 support

The 1-day price chart for Uniswap price analysis shows an increase in price. The UNI/USD is trading hands at $15.1 at the time of writing. The crypto pair gained a value of $6.13 over the last 24 hours but is at a loss in value of 3.41 percent over the past week. The trading volume has increased by a good 63 percent, and the market cap has increased by 6.04 percent resulting in the market dominance of 0.44 percent.

The volatility for UNI/USD is increasing, as the Bollinger bands are expanding and covering more area with the upper limit of the Bollinger bands present at the $22 mark, and the lower band is present at the $12 mark representing the support for UNI/USD. The mean average forming at $17 represents resistance for UNI.

The relative strength index (RSI) is trading in the lower half of the neutral zone at index 38 but on a very slight upwards slope. The indicator shows a very slow progression in buying activity.

Uniswap price analysis: Recent developments and further technical indications

The 4-hour Uniswap price analysis shows bears have countered the bullish momentum of the last few hours of yesterday’s session and the starting hours of today’s session, as a sudden decline in price has been observed in the last four hours as the bearish attack is of quite an impact.

The volatility is also low on the 4-hour chart as the Bollinger bands are maintaining a narrow tunnel shape indicating limiting price movement for the coming hours. The upper band is at $15.5, representing resistance for UNI, and the lower band is at the $14 mark, making an average of $14.8 mark. The average of the Bollinger bands is below the price level, indicating support for the UNI/USD pair. The RSI is at index 53 in the neutral zone steep downwards movement hinting at a selling activity overtaking the market.

Uniswap price analysis: Conclusion

The Uniswap price analysis shows the coin rallied high at the start but is spiraling downwards now, as the price function was towards upside for the past 16 hours, so bulls might be exhausted. It can be expected for UNI to continue upside after the correction ends during the day.

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