Uniswap price analysis: UNI to retest $17 resistance as bulls rally continues
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TL;DR Breakdown
- Uniswap price analysis is bullish.
- Resistance for UNI/USD is present at $17.7
- Support has been stable at $16.4.
The Uniswap price analysis is bullish for today, the UNI/USD price has been unrestrained from the bearish pressure, as further progress has been reported for today. The price has been rallying upwards since the start of the trading session as bulls are aiming for a break above $17.7 resistance today. However, some selling pressure is also expected as this is a crucial resistance level. The price has already reached the $17.5 level and is nearing the resistance level every second, The price function will test the said resistance in the coming hours, and there are imminent chances for a break above.
UNI/USD 1-day price chart: Bullish momentum stimulates as to retrieve price over $17.7
The 1-day Uniswap price analysis is showing signs of bullish recovery as the green candlesticks are appearing for the third day after bulls regained momentum. The past few days have proved beneficial for the cryptocurrency, as an upward trend has been following. There has been a continuous uprise occurring in the coin value, and today its value has been restored to $17.5. The current value is quite close to the next resistance, which is present at $17.7.
The moving average (MA) value is trading at the $15.9 mark below the price level. The SMA20 curve is trading below the SMA50 level due to the downtrend during the previous week. The Bollinger bands are showing high volatility for UNI/USD, with the upper limit of the indicator at the $19 mark representing resistance and the lower limit is at $14, representing the strongest support for the cryptocurrency. The relative strength index (RSI) is on an upwards slope at index 53. The indicator hints at the buying activity in the market.
Uniswap price analysis: Recent developments and further technical indications
The price has been traveling high, according to the 4-hour Uniswap price analysis. The recent uptrend started last night and continued throughout the day. The price function has been headed upwards for the last 20 hours, and as a result, the price has reached the $17.5 level. The recent bullish trend has brought good prospects for cryptocurrency as it has gained significant value.
As the volatility has increased tremendously, the upper Bollinger band is now touching the $17.4 mark, whereas the lower Bollinger band is on the $14.9 mark. The RSI curve has entered the overbought zone and is trading at index 72, confirming the uptrend in price.
Uniswap price analysis conclusion
The Uniswap price analysis suggests the bulls are trying to elevate the price level as a continuous increase in price occurred during the past few days. The UNI/USD price has rejoined the $17.5 level, thus confirming the rise in price. We can expect a further upward price movement in the upcoming hours, as the four hours price analysis is also giving bullish hints, and the price will hopefully break above the resistance for $17.7 to continue further upside.
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