1. BITBILIHome
  2. Article

Uniswap price analysis: UNI retests $5.14 resistance; is a break above possible?

• 126 views

TL;DR Breakdown

  • The Uniswap price analysis is bullish.
  • The next resistance for UNI/USD is present at $5.20.
  • Strong support is found at $5.04.

The Uniswap price analysis is bullish for today as the coin price function continues an uptrend. The recent uptrend started on May 16, 2023, when UNI got support at $4.91. The coin was on the decline after peaking at $6.33 on April 18, 2023, and the downtrend lasted till May 26th, losing significant value over that time. But today, the bullish momentum has started again, as the price is currently trading at $5.15, retesting the resistance present at $5.14. A further increase in UNI/USD value is also to be expected in the upcoming hours as well if buyers participate.

UNI/USD 1-day price chart: Cryptocurrency value bounces back to $5.15 high

The 1-day Uniswap price analysis shows bullish price action for the day as the price has re-challenged the $5.14 resistance. A constant shift in price trends has been observed since yesterday, but today the bulls secured the lead. The UNI/USD price has increased up to the $5.15 mark, gaining around 0.10 percent value during the last 24 hours, and further improvement is expected soon as the UNI bulls are now eyeing $5.20 resistance next. But it seems like a far cry at the moment.

uni1dnxUniswap price analysis: UNI retests .14 resistance; is a break above possible?
UNI/USD 1-day price chart. Source: TradingView

The moving average (MA) stands at $5.06, significantly below the prevailing price level and also positioned beneath the SMA 50 curve, which can be attributed to the persistent bearish trend that was previously established. The Bollinger bands indicator is indicating an elevated level of volatility, as the average line of the indicator currently rests at $5.13. Despite this, volatility remains high. The upper Bollinger band is positioned at the resistance level of $5.35, while the lower Bollinger band is situated at the strongest support level of $4.91. The Relative Strength Index (RSI) is currently trading at an index of 47, showcasing a notable upward curve attributed to the heightened buying activity observed in the market.

Uniswap price analysis: Recent developments and further technical indications

The 4-hour Uniswap price analysis is also dictating an upward trend for the price function, as the price movement has been mostly towards the upside for today, and the upward trend has been getting stronger despite the fact that the price has neared another local resistance level. The price has increased up to $5.15 in the last four hours as well, and further recovery can be expected as well. The moving average value in the 4-hour price chart is found at the $5.13 level as it trades high above the SMA 50 curve.

uni4hlcUniswap price analysis: UNI retests .14 resistance; is a break above possible?
UNI/USD 4-hours price chart. Source: TradingView

The Bollinger bands are currently diverging, indicating a notable increase in volatility. The indicator is maintaining its average value at $5.07, underscoring the prevailing market conditions. Moreover, the upper Bollinger band is positioned at the $5.18 mark, serving as a resistance level, while the lower Bollinger band sits at the $4.97 mark, providing a robust level of support. As a result of the ongoing bullish trend, the RSI score has surged to the level of 61, suggesting growing buying momentum in the market.

Uniswap price analysis conclusion

The hourly as well as daily Uniswap price analysis is bullish, as positive price movements have been seen on both charts. Both of the predictions are going in favor of the bulls, as the rise in bullish momentum has taken a price above $5.15. The price has covered upward movement in the last four hours as well, which means that a further increase in UNI/USD value is to be expected soon.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Uniswap price analysis: UNI retests $5.14 resistance; is a break above possible?

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月2日 14:48
Next 2023年6月2日 16:05

Related articles

  • Former SEC Chief Criticizes Coinbase’s SEC Defense as “Criminal”

    TL;DR Breakdown Former SEC Chief John Reed Stark criticizes exchange’s defense, stating that claiming SEC approval of its IPO does not absolve the exchange from charges. The SEC’s role in IPO approval is to review disclosures, and a disclaimer is issued to recuse the commission from claims similar to those Coinbase plans to use in its defense. John Reed Stark, former Chief of the SEC Office of Internet Enforcement, has raised serious concerns regarding the key defense put forth by Coinbase Global Inc., the American publicly traded exchange, in response to charges brought by the U.S. Securities and Exchange Commission (SEC). Stark argues that Coinbase’s assertion that the SEC approved its Initial Public Offering (IPO) in 2021, implying a comprehensive knowledge of its business, is fundamentally flawed.  As a former regulatory chief, Stark emphasizes that the SEC’s role in IPO filings is primarily to review the accuracy of disclosures made by the applying company. He points out that the SEC includes a strong disclaimer in each prospectus, explicitly distancing itself from any claims the exchange plans to use as part…

    Article 2023年6月15日

  • Why is the crypto market down today? The August 2023 heat

    TL;DR Breakdown The crypto market tanked as the benchmark U.S. Treasury yield rose to its highest level in nearly two years. The yields increased the day after the minutes from the Federal Open Market Committee’s (FOMC) July meeting reiterated hawkishness. Ripple (XRP) leads in market decline with the possibility that the SEC appeal could get a green light. Kevin O’Leary suggests that the Fed could continue to raise interest rates because of increased inflation in America. Description Rising U.S. bond yields are likely to blame for today’s downward price trend in the crypto market. Specifically, today’s crypto market is declining as the benchmark U.S. Treasury yield rose to its highest level in nearly two years. According to CoinGecko, the current market cap of all cryptocurrencies is $1.16 Trillion, a change of -3.4% … Read more Rising U.S. bond yields are likely to blame for today’s downward price trend in the crypto market. Specifically, today’s crypto market is declining as the benchmark U.S. Treasury yield rose to its highest level in nearly two years. According to CoinGecko, the current market cap…

    Article 2023年8月18日

  • South Korea ditches China for the U.S. – Why?

    TL;DR Breakdown South Korea is subtly shifting its economic focus from China to the U.S., reflecting geopolitical tensions and strategic choices. The Biden administration is offering significant incentives to Korean companies in sectors like semiconductors and electric vehicle batteries. China has retaliated with restrictions, sparking fears among Korean companies. Description The geopolitical landscape is shifting as South Korea moves away from China and aligns more closely with the U.S., a tectonic shift with potential consequences for the global economic balance. While the shift may seem gradual, it’s as clear as day and backed by hard facts. South Korea’s journey from being intertwined with China to … Read more The geopolitical landscape is shifting as South Korea moves away from China and aligns more closely with the U.S., a tectonic shift with potential consequences for the global economic balance. While the shift may seem gradual, it’s as clear as day and backed by hard facts. South Korea’s journey from being intertwined with China to becoming closer allies with the U.S. is a story of strategy, economic necessity, and a refusal to…

    Article 2023年8月2日

  • How top U.S. banks are cashing in on rate hikes

    TL;DR Breakdown JPMorgan Chase, Citigroup, and Wells Fargo saw increased profits due to the Federal Reserve’s interest rate hikes. These banks raised loan charges while managing to avoid significant increases in the interest paid to depositors. Higher rates put pressure on borrowers, triggering worries about potential loan defaults. Description The financial landscape of the U.S. is experiencing a remarkable shift as three banking titans, JPMorgan Chase, Citigroup, and Wells Fargo, collectively recorded a net interest income of $49bn in the second quarter. This financial windfall is largely attributed to the recent surge in loan charges, sparked by a series of interest rate increases initiated … Read more The financial landscape of the U.S. is experiencing a remarkable shift as three banking titans, JPMorgan Chase, Citigroup, and Wells Fargo, collectively recorded a net interest income of $49bn in the second quarter. This financial windfall is largely attributed to the recent surge in loan charges, sparked by a series of interest rate increases initiated by the Federal Reserve. Riding the wave of rate rises The amplified profits of these major U.S. banks…

    Article 2023年7月16日

  • Europe wins the inflation pageant, beating U.S.

    Description While many nations rally to celebrate their achievements, Europe finds itself in the limelight for a rather unwelcome reason. Their persistence with inflation stands out, and not in a way that invites applause. In a contest no country wants to win, Europe seems to be taking the lead, standing out starkly against the U.S. The … Read more While many nations rally to celebrate their achievements, Europe finds itself in the limelight for a rather unwelcome reason. Their persistence with inflation stands out, and not in a way that invites applause. In a contest no country wants to win, Europe seems to be taking the lead, standing out starkly against the U.S. The Transatlantic Tug of War Let’s get something straight – Europe’s inflation issue isn’t just some fleeting, minor inconvenience. It’s a stickier, more tenacious problem, making U.S.’s inflationary concerns look like child’s play in comparison. As the U.S. basks in the comfort of declining consumer price inflation, Europe grapples with a significantly more pronounced rate. It’s interesting, and not in a good way, that while the U.S….

    Article 2023年9月5日
TOP