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- 1 The UNI token witnessed a sharp rally and surge over 80% this month.
- 2 Uniswap token signifies buying momentum and continues to rise the gains.
The Uniswap (UNI) token signifies a massive spike and has surprised investors by giving a bull run in the past sessions. The token price has skyrocketed over 60% this week and is demonstrating cues of institutional buying activity. The Uniswap Foundation proposed upgrading the governance system, which led to an impulsive rise.
UNI price climbed above the key moving averages and has reached the blue sky zone above $10, crossing multiple hurdles in a single go. Moreover, the token has trapped the bear cartel, who have maintained their grip for the past weeks, and a major short covering rally was witnessed. Per the Fib retracement levels, the token has climbed above the 61.8% zone and is trying to surpass the 78.6% zone.
The Uniswap token (UNI) price was $12.40 at press time, with an intraday gain of 13.54%, showing bull accumulation on the charts. Moreover, the trading volume has increased by 18.90% to $592.73 Million. Uniswap price has a weekly return ratio of 7.87% and 104.80% on a monthly basis. The pair of UNI/BTC is at 0.000198 BTC, and the market cap is $10.69 Billion. Analysts are bullish and suggest that the UNI token price will continue to extend the gains and may reach the $15 mark soon.
Uniswap (UNI) Glimpse Bull Run, Will UNI Continue To Rise?
The token has witnessed a major bullish marubozu candlestick on the daily charts and sparkled the fireworks. The Uniswap token price has replicated investor interest, and a significant runaway was noted. The technicals signal a golden crossover, and a further upward move toward $15 can be anticipated soon.
The Momentum Indicator (RSI) curve stayed beyond 70 and reflects a buy signal and bullish sentiments for the upcoming sessions. Similarly, the MACD indicator shows a bullish crossover and suggests a rally continuation. Additionally, the technicals are giving a positive divergence and a sharp bounce from the 20-day EMA was noted. The bulls look aggressive and will continue to showcase their dominance in the following sessions.
Uniswap Rolls Above 100-Day EMA, Can Bulls Stretch Up Move To $20?
On the weekly charts, the token has broken out of a falling trendline barrier and registered a sharp breakout. The token has crossed major hurdles of $8 and $10, and bulls still uphold the gains. Furthermore, the token has retained the bullish trajectory, and an uptrend has begun this week.
Summary
The Uniswap token (UNI) price has gained buying momentum and initiated a breakout that may step up the gains toward $15 soon. The trend is intact, and the token will continue to spark the gains in the following sessions.
Technical Levels
Support Levels: $11 and $10
Resistance Levels:$13 and $15
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
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.
