Uniswap Price Analysis: Will UNI Skip Consolidation?

• Uniswap is astatine $6.48 (press time), pinch an summation of 6.62% during nan intraday trading session.
• The 24-hour debased of UNI was $6.10 and nan 24-hour precocious of UNI was $6.62.
• The existent Uniswap token value is supra 20, 50, 100, and 200-Day EMAs.

The brace of UNI/BTC was trading astatine $0.0002373 BTC pinch a emergence of 2.98% complete nan intraday trading session.

Uniswap value prediction suggests that it is presently successful an uptrend aft nan statement of nan greeting prima candlestick shape complete nan regular trading chart. Since nan statement of nan inverted bullish hammer candlestick shape complete nan regular trading floor plan aft nan downtrend adjacent nan extremity of 2022, UNI token started moving upwards. UNI token collapsed its superior support of $6.102 connected its measurement up. But aft reaching adjacent its superior guidance of $7.322, nan token began consolidating betwixt its superior support and resistance. After nan 2nd mendacious breakout, sellers tried to predominate UNI token, pushing it beneath its superior support.

But aft nan quality of nan greeting prima candlestick shape complete nan regular clip frame, nan floor plan whitethorn origin a bullish reversal arsenic tin beryllium seen complete nan chart. The greeting prima candlestick shape aft a downtrend indicates nan commencement of an upward climb. It is simply a motion of a reversal successful nan erstwhile value trend. Traders tin activity confirmation that a reversal is so occurring utilizing further indicators. This mightiness beryllium nan origin of nan existent uptrend arsenic tin beryllium seen successful nan regular trading chart.

Source: UNI/USD by Tradingview

The measurement of nan coin accrued by 37.39% successful nan past 24 hours which indicates that nan number of buyers has increased.

Uniswap Price Technical analysis: 

Source: UNI/USD by Tradingview

RSI is rising toward nan overbought area and shows a affirmative crossover indicating accumulation by nan buyers. The existent worth of RSI is 53.16 which is beneath nan mean RSI worth of 44.12. 

The MACD and nan awesome statement are expanding and showing a affirmative crossover complete nan regular floor plan which supports nan RSI claims. Investors request to watch each move complete nan charts during nan day’s trading session.

Conclusion

Uniswap value prediction suggests that it is presently successful an uptrend aft nan statement of nan greeting prima candlestick shape complete nan regular trading chart. From nan commencement of 2023, UNI token was seeking stableness but began consolidating betwixt its superior support and resistance. The summation successful nan trading measurement successful nan past convention shows nan affirmative marketplace sentiment towards UNI. The RSI and MACD are expanding and are showing a affirmative crossover connected nan regular trading chart. This whitethorn springiness opportunities to nan agelong traders to participate nan market.

Technical Levels-

Resistance level- $7.322 and $7.771

Support level- $6.102 and $4.947

Disclaimer-

The views and opinions stated by nan author, aliases immoderate group named successful this article, are for informational purposes only, and they do not found financial, investment, aliases different advice. Investing successful aliases trading crypto assets comes pinch a consequence of financial loss.