Uniswap price analysis: UNI climbs above $6.80 as bullish momentum restores
Uniswap price analysis reveals that the digital asset UNI has been on a bullish run over the past 24 hours. The price has rejoined the $6.87 level, as the bulls have overcome the bearish momentum. An uptrend has been following since the start of today and the price advanced quite smoothly. The last few days showed the opposite trend, as the bearish momentum heightened again. Nonetheless, the bulls have recovered today after a bullish return.
The trading volume for UNI has decreased over the past 24 hours. The volume has dropped to a low of $88 million, which is lower than 24 hours before. Despite this, the price continues to increase as the bulls are now holding the market’s momentum. The market cap of Uniswap is now over $5.26 billion, which is a sign of growth in digital asset value.
UNI/USD 1-day price chart: Bulls regain balance above $6.80 after revival
The Uniswap price analysis shows that the price is going high once again as the bullish candlestick has returned on the price chart. The past few days proved detrimental for the overall coin value as a bearish trend was dominant. But now the price is ascending again and it has improved up to the $6.87 level during the last 24 hours. Meanwhile, the moving average indicator (MA) is displaying its value at $6.95, slightly below the price levels.
The volatility is increasing and the price might go down again in the upcoming days. The Bollinger bands’ values have changed as well; now the upper band is settled at $7.41, whereas the lower band is at $6.14. The Relative Strength Index (RSI)has improved up to 53.20 during the day as well.
Uniswap price analysis: Bullish trend continues as UNI trades at $6.87
The 4-hours Uniswap price analysis is confirming that an uptrend has been taking place for the past few hours. There have been instances where the bulls have encountered bearish resistance, but nonetheless, the upward trend has been maintained. The bulls need to maintain the support at $7.86 in order to keep the bullish run alive. The resistance level is set at $0.83, and if the bears manage to breach it, then a bearish run may be expected.
The Bollinger bands on a 4-hour timeframe are both slightly below the current price. The upper band is at $7.36, while the lower band is at $6.68 respectively. The RSI indicator has increased up to 46.88 in accordance with the rising trend, indicating that more bullish momentum may be on its way soon. The 50-day moving average and the 200-day moving average are both pointed upwards, indicating that the uptrend is likely to continue in the near future.
Uniswap price analysis conclusion
The Uniswap price analysis reveals that the bullish momentum has been restored and the digital asset UNI is trading above $7.80 once again. The bullish momentum has helped in taking the price to the $6.87 level after finding recovery. The support is being provided at $6.78, and if the bulls manage to keep it intact, then UNI may be able to reach new highs in the near future.
