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- 1 The Uniswap cryptocurrency surges as Bitcoin initiates recovery.
- 2 The current price of the Uniswap coin is currently at $6.39 with a gain of 4.75% during the last intraday trading session
- 3 The pair of UNI/BTC is currently at 0.0002567 BTC with a rise of 2.52% during the last 24 Hours.
The Uniswap coin is under a bullish rally. The surge of Bitcoin could be a reason for the bullish dominance. Uniswap might rally in the upward trend. The investors are getting into the trade and the coin is gaining potential. The UNI’s bullish rally had begun since the start of the financial year 2023.
The bears tried to give some dip to Uniswap crypto over the daily price chart. The buyers are getting aggressive over the UNI. The Uniswap coin is currently trading at $6.39 with a gain of 4.75% during the last intraday trading session.
The pair of UNI/BTC is currently at 0.0002567 BTC with a rise of 2.52% during the last 24 Hours.
The UNI bullish rally might lead the coin to reach its primary resistance of $6.878 and it may surge to the secondary resistance of $7.430 if the coin breaks from its resistance the investors might look at a drastic change over the daily price chart. The bears might try again to get into the trade if the bearish dominance persists then the price may reach the primary support of $5.421 and the coin price may dip up to the secondary support of $4.961.
The buyers get into trade the volume of the Uniswap coin has increased by 15.40%. It clearly indicates that the short-selling pressure on the Uniswap coin is decreasing. The sellers must seek to trade else they might lose their grip over the UNI. The UNI’s price is trading above the 50,100,200 days of the Daily Moving Average. And the coin is still lagging behind 20 days of the Exponential Moving Average.
Exploring the technical indicators of UNI
The technical indicator shows the following: The relative strength index is much closer to neutrality and the buying is getting stronger, the sellers have to knuckle under to normalise the price of the UNI. The current RSI is 49.54 which is above the average RSI. The average RSI is 43.44. The MACD and MACD signal have intersected giving a positive crossover.
Conclusion
Uniswap cryptocurrency’s market trend is currently bullish. The coin seems to have recovered from its previous dip. The bulls are gradually getting a grip over UNI. The Uniswap coin is currently trading at $6.39 with a gain of 4.75% during the last intraday trading session. The buyers are dominating the market of the UNI.
Technical Levels-
Resistance level- $6.878 and $7.430
Support level- $5.421 and $4.961
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
