Uniswap Price Analysis: UNI Bulls Breaks Above $20.00

Uniswap Technical Analysis February 04 2021
  • Uniswap performed a positive momentum on Thursday’s trading session
  • Uniswap price is $20.06, which is up by 4.13% in the last 24-hour time-frame and 46.31% up from the previous week
  • UNI/BTC pair is positive with a gain of 2.25% in Thursday’s trading session (0.00053669)
Source: Coinmarketcap

Uniswap had positive momentum on the weekly chart, and it went up to $21.51 on February 04, 2021, while breaking above the resistance zones created in the past. UNI price set a mark of an all-time high 9-hours ago. Meanwhile, the trading volume of $1,290,068,934 in the last 24-hour time-frame represents a decrease in the value of 9.38%. The UNI/ETH pair is in a downtrend with a value of (0.01238) which is up by 4.03% in Thursday’s trading session.

Uniswap Technical Chart Indicates a Positive Momentum

Source: TradingView

The technical chart of Uniswap highlights a positive trend. In contrast, The Uniswap price is at $20.06. According to pivot points, the critical support level for UNI is placed at $12.70. Whereas if it moves up, the key resistance levels to watch are $20.24 and $22.57. While diving into the weekly chart of 15-minute time-frame, it completes an homing pigeon candlestick pattern, indicating the bulls have overwhelmed the bears and are now in control.

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Volume indicator with the value (62.105K) reflects a moderate selling volume in coin. Investors can further expect an decrease in selling volume in the upcoming trading sessions.

SMA-200, price is at $10.06, which acts as another strong support in the coin. The price is above the SMA, and investors can expect a bullish trend in the coin.

MACD indicator (Bearish), no bullish crossover signal line spotted on February 04, 2021, indicated a sell signal in the coin during the trading session. Also, it denotes the end of red bars on Histogram.

Meanwhile, the RSI indicator (Bullish) with a value of 63.16 indicates a buy signal in the coin. One can observe an increase in value in upcoming trading sessions.

Conclusion 

Uniswap price is up by 4.13% on Thursday’s trading session. The price is above the SMA of $10.06 and testing the resistance level of $20.24, investors may expect the price move towards the next resistance of $22.57. All technical indicators suggest a buy signal in the coin.

Resistance: $20.24, $22.57

Support: $12.70

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Nikhil Ingolehttp://themarketperiodical.com
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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