BIT

Uniswap (UNI) Analysis: Do Uniswap coin price still has the potential to create a new 52-week high?

  • Uniswap, after a sharp selling, again rebound from the lower levels and preparing to hit a new 52-week high again
  • The pair of UNI/BTC is trading at 0.0001703 BTC with a minor gain of +0.65% 
Source:tradingvie

Uniswap coin price is trading in bullish momentum followed by the rising support line. The coin is currently trading above the 20-Day moving Averages. Similarly, the 50-DMA is acting as the minor support line. The coin finds support on lower levels of $4.45 and $3.03. Likewise, the resistance on the higher side is considered $6.77 and $7.70. The coin recorded its lifetime high of $8.44 on September 18, 2020. 

Source:tradingview

Uniswap (UNI) coin price trading on the bullish note but facing strong resistance near the crucial zone of $6.65. A bullish pattern is observed over the monthly chart after testing the lower level of $4.40. A positive rally built up by the pattern of the rising support line. The higher side’s resistance is placed at $7.00 & $7.70 for the short term, and support on the lower side is placed at $5.00 and $4.40. The volume recorded is $1,681,391,498 in the last 24-hour time frame, likewise, the total market capitalization stands at $1,868,406,444 with intraday gains of +16.84%.  

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The Relative Strength Index (RSI) indicates a bullish momentum while trading at 72.03. Currently, it is trading near the overbought territory. Therefore a short-term retracement is expected. 

Moving Average Convergence Divergence (MACD) currently indicates a bullish trend on the daily chart as it gives a positive crossover. However, multiple crossovers are seen over the chart.

Support levels: $4.45 and $3.03

Resistance levels: $6.77 and $7.70   

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Pratik Chadhokarhttp://www.thecoinrepublic.com
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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