Uniswap Price Analysis: UNI Price Gives Breakout For $60

Uniswap price might give some unexpected returns in upcoming days
  • UNI swap price has given a breakout from the supply zone and can rally further upwards 
  • Technical Indicators for UNI price suggest a bullish move. Meanwhile, UNI/USD pair has also been on a bullish trend.

Uniswap is known for its role in making possible automated trading of decentralized finance (DeFi) tokens. It aims to keep token trading and also completely open to anyone who holds tokens. It aims to improve traditional automated trading and increase its efficiency. UNI price is aiming for newer highs.

UNI has a market capitalization of $23,306,109,319.. The volume of the coin has seen an increase of 71% in 24 hr time frame. The volume to market capitalization ratio for UNI is 0.054, and if it crosses above 0.8, then a huge buying rush can be observed.

Technical Indicators Suggests Bullish  Move For UNI Price

Source: Trading view
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Uniswap is showing a weak bullish move on the weekly technical chart. The price has been on the rise in the daily time frame. The coin can see a reversal while going up at $50. Meanwhile, a bounce-back can be seen while going down at $35.

The coin is above 50 and 100 Moving Averages. The 50MA (Red) line is at $31, making it temporary support for the current price. On the daily frame, the coin has given a breakout from the supply zone. There can be an uptrend in the price until $60. UNI/BTC pair can also accompany the price rise.

RSI(Bullish): It is trailing at 68.9, showcasing its presence in the neutral zone. There is a positive slope formation in the RSI, highlighting a positive sentiment for the price. RSI depicts a bullish momentum for price.

Conclusion

UNI price has filled the investors’ pocket in the past with heavy returns. UNI/BTC pair is also seeing a bullish trend in the price. Investor should do their due diligence before investing. 

Technical Levels

Major Support:$35

Major Resistance:$50

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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.

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