Uniswap Price Analysis: UNI Seems To be In Trouble As Following 300% Bull Rally

  • Uniswap is continuing its bullish moment, which started on JAN 12,2021, making the investors gain 37.82% within a week
  • UNI/BTC pair is trading at 0.0005732 with a loss of 5.6%
  • Uniswap may be due for a correction as multiple indicators indicate a sell signal

Over the past few trading sessions, UNI has gained over 37%, making it one of the future’s interesting investments. Meanwhile, it has jumped from a low of $10.2 to a new high of $20.73. It is ranked 13 with a market capitalization of $5,641,161,469.The volume of UNI is $2,127,253,544, which has changed around 1.69%, indicating a significant move. It is trading at the level of $19.44(at the time of writing ), giving it a gain of 8.57%. It is also trading around its major resistance level.

Uniswap (UNI) Technical Analysis

Source: Trading view

UniSwap has seen a surge of 300% in less than 20 days. The coin is now heading towards a due correction. It has started to form a bearish engulfing pattern showcasing the upcoming correction. It is trading above its 20 MA and 9MA line, acting as temporary support for  UNI. 

- Advertisement -

Moving Average Convergence Divergence(Bearish): MACD is trading in the positive zone with lower values. The bars of the MACD are in the green zone but with a lower length. It indicates upcoming downward correction.

Relative Strength Index (Bearish): RSI is at 72.85(at the time of writing), making its presence in the overbought zone. It has also not formed any positive slopes in a couple of trading sessions, indicating that there might be Bearish movement on its way.

CONCLUSION 

Uniwap has proved itself to be a very useful cryptocurrency for investors in the past couple of weeks, with its gain. The recent bull rally of the crypto asset can also be seen as the effect of the rally of other altcoins, but will it sustain this gain or eventually come to an end. The answers lie within the UNISWAP and Investors.

TECHNICAL LEVELS

MAJOR SUPPORT:$13.79

MAJOR RESISTANCE:$20.75

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners