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- 1 Uniswap crypto price is currently trading at $6.399 with a gain of 1.64% in the last 24 hours with a current market cap of $3.764 Billion.
- 2 UNIUSD broke above the key moving averages, showcasing bullishness.
Uniswap (UNI) price gained momentum and broke above the 20, 50, 100, and 200-day EMAs, indicating bullishness in the previous trading sessions. The price broke out of the falling wedge pattern amid a sharp rally.
The crypto tested the demand zone near $5.900 in the previous session, where it found support and bounced back. Buyers have regained strength and are aiming for the $6.6 level in the coming sessions.
The chart structure shows volatility in the previous few months, with the crypto facing multiple rejections at the supply range of $5.00. The lower levels acted as a support region, and the crypto bounced from there, pushing the price into a narrow range.
Furthermore, the crypto’s trajectory shows that beyond $6.600, the zone is bullish, and a rally could be seen. But, if further rejection takes place, then the crypto will continue to trade in the congestion zone. Similarly, below $5.000, bearishness could be extended.
At press time, Uniswap crypto was trading in a bullish zone, showing bullishness on the chart. Moreover, the intraday trading volume is 142.458 Million. The market cap of Uniswap crypto is $3.764 Billion.
Technical Analysis of Uniswap Crypto Price in 1-D Time Frame
Currently, Uniswap crypto (USD: UNI) is trading above the 50 and 200-day exponential moving averages (EMAs), which are supporting the price momentum.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the Uniswap price is expected to move upwards, giving bullish views over the daily time frame chart.
The current value of RSI is 63.60 points. The 14 SMA is above the median line at 63.13 points which indicates that the Uniswap crypto is bullish.
The MACD line at 0.289 and the signal line at 0.310 are above the zero line. A bearish crossover was observed in the MACD indicator which signals weakness in the momentum of the UNI crypto price.
Short-Time Horizon Analysis
Uniswap crypto has shown buyers’ strength, and a mild consolidation was noted on the short-term chart. Moreover, the price is above the key EMAs, which shows further weakness in the crypto. The RSI curve is near the overbought region at 60.46, and a positive outlook was noted, highlighting the bullishness in the crypto. The MACD indicator also persisted to form green bars, and a bullish crossover was noted.
Summary
Uniswap crypto price has shown a strong bullish trend in recent trading sessions, breaking out of the falling wedge pattern. UNI is expected to touch the $6.600 mark, next. The crypto has been supported by the positive sentiment of the buyers and the technical indicators. However, the price may face some selling pressure near the supply zone and the MACD indicator has shown a bearish crossover. Therefore, the investors should be cautious and watch for the price action before entering or exiting the market. Uniswap crypto price is expected to continue its upward journey if it can sustain the momentum and break the psychological barrier of $6.600.
Technical Levels
Support Levels: $5.986.
Resistance Levels: $6.693.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
