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- Uniswap price slipped from higher levels due to abnormal volume activity and failed to hold short term moving averages of 20 and 50-Day
- The pair of UNI/BTC today performing well, as jumped nearly +7.70%, standing at 0.0005724 BTC
Uniswap price over the monthly chart is trading sideways at the higher levels, as the volume action seems to be decreasing gradually over the period. After making a new 52-week high of $39.52, UNI slipped sharply due to profit-taking.
However, the overall trend over the longer-term time horizon is still positive or bullish, and the dip can be utilized for buying opportunities. While support on the lower side is situated at $25 and $19.5, similarly resistance on the higher side is $40 and $47. Uniwasp is located at 11th rank according to the total market capitalization stands at $16,664,456,153 with intraday gains of +5.68%.
Uniswap price over the weekly time frame is trading sideways after sharp profit-taking from higher levels. Meanwhile, the consolidation range of UNI is between $32.90 to $28.20. It must break the trading range with high volume for further strong momentum. Meanwhile, the indicators are in favor of a sideways trend over short-term charts.
Currently, the coin is trading at $31.80 with intraday gains of +4.42%, and volume in the last 24-hours dropped around -8.09%, standing at $904,342,833.
Relative Strength Index (NEUTRAL) indicates neutral momentum while trading at 50.62. However, after testing the oversold zone, it recovered gradually, but the momentum is missing, and a sideways trend is expected.
Moving Average Convergence Divergence (NEUTRAL) currently indicates a bullish trend on the daily chart, as it is trading with the significance of the buyer’s signal line (green) over the seller’s line (red). However, a sideways trend is expected for the short term.
Support levels: $40 and $47
Resistance levels: $25 and $19.5.
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.
