Uniswap price analysis: Bullish swing propels price above $7.00

Uniswap price analysis is highly bullish for today as the coin rallied from $6.62 to $7.04. The bulls took the lead following a descending for the previous day, but overall the cryptocurrency price is in the higher price range as the next resistance stands at $7.04, and the support for UNI/USD stands at $6.62. A rise in price has been observed in the last few hours as well, which is quite encouraging for the buyers.



Cryptocurrencies price heatmap, Source: Coin360


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Cryptocurrencies price heatmap, Source: Coin360

The price has been uplifted to the $7.00 level, as the bulls have been successfully maintaining the upwards trend line since the start of today. The market capitalization of the coin has also reached $5.34 billion, while the 24-hour trading volume of the coin is currently at $142 million.

UNI/USD 1-day price chart: Uniswap gains 5.64 percent as trading volume increases significantly

The 1-day Uniswap price analysis shows the price has increased significantly today as the bulls regained control. UNI/USD is trading at $7.00 at the time of writing as the UNI reports an increase in value of 5.64 percent over the last 24 hours as bulls showed good momentum today. 



UNI/USD 1-day price chart, Source: TradingView


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UNI/USD 1-day price chart, Source: TradingView

The MACD indicator shows bullish movement as it moves above the signal line. The RSI indicator is also in the overbought zone, indicating that UNI may see a minor correction soon. However, overall the trend remains upward for now. The SMA lines are also showing a bullish crossover, indicating a positive trend in the near term. 

Uniswap price analysis 4-hour chart: Bulls struggle to make a breakthrough above $7.00

The 4-hour Uniswap price analysis shows the price is struggling to make a breakthrough above the $7.00 level, as the bulls are yet to gain enough momentum. However, overall the recent trend line on the 4-hour chart has been upward for the last 24 hours as the coin started to rally during the last trading session.



UNI/USD 4-hour price chart, Source: TradingView


© Provided by Cryptopolitan
UNI/USD 4-hour price chart, Source: TradingView

The Histogram is also in the positive zone, indicating that the bulls have managed to take control of the market. The MACD indicator is also in the bullish territory as it moves above the signal line. The RSI indicator is also in the overbought zone, indicating that UNI may see a minor correction soon.

The SMA 50 is also trading above the SMA 200 line, indicating a bullish trend in the near term. Overall, it looks like UNI is bouncing back after a few days of losses and could be headed for more gains in the coming days.

Uniswap price analysis conclusion

Overall, Uniswap analysis shows that the coin is currently experiencing bullish momentum and may continue to rise in price if it breaks through resistance levels. However, investors should also keep an eye out for any potential correction in the near term.

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