Uniswap Price (UNI) Pumps 20%: Is This the Start of a Major Rally?
June 05 2024 - 12:18AM
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UNI price started a major increase above the $10.50 resistance.
Uniswap is showing positive signs and might eye more upsides above
the $12.00 resistance. UNI started a fresh increase above the
$10.50 resistance zone. The price is trading above $11.20 and the
100-hourly simple moving average. There was a break above a key
bearish trend line with resistance near $10.35 on the hourly chart
of the UNI/USD pair (data source from Kraken). The pair might
correct gains, but the bulls might eye more upsides above $12.00 in
the near term. UNI Price Regains Traction After forming a base
above the $9.20 level, Uniswap started a fresh increase like
Bitcoin and Ethereum. UNI price gained pace for a move above the
$9.80 and $10.00 resistance levels. There was a break above a key
bearish trend line with resistance near $10.35 on the hourly chart
of the UNI/USD pair. The bulls even pushed the price above the
$10.50 and $11.50 resistance levels. Finally, the bears appeared
near the $12.00 zone. A high was formed near $11.795 and the price
is now consolidating gains near the 23.6% Fib retracement level of
the upward move from the $9.28 swing low to the $11.95 high. UNI is
now trading above $11.20 and the 100-hourly simple moving average.
Immediate resistance is near the $11.55 level. The next key
resistance is near the $12.00 level. A close above the $12.00 level
could open the doors for more gains in the near term. The next key
resistance could be near $12.20, above which the bulls are likely
to aim a test of the $12.50 level. Any more gains might send UNI
toward $13.50. Are Dips Supported In Uniswap? If UNI price fails to
climb above $11.95 or $12.00, it could start a downside correction.
The first major support is near the $11.00 level. The next major
support is near the $10.60 level or the 50% Fib retracement level
of the upward move from the $9.28 swing low to the $11.95 high. A
downside break below the $10.60 support might open the doors for a
push toward $10.20. Technical Indicators Hourly MACD – The MACD for
UNI/USD is gaining momentum in the bullish zone. Hourly RSI
(Relative Strength Index) – The RSI for UNI/USD is above the 50
level. Major Support Levels – $11.00, $10.60, and $10.20. Major
Resistance Levels – $11.55, $12.00, and $12.20.
Uniswap (COIN:UNIUSD)
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From Aug 2024 to Sep 2024
Uniswap (COIN:UNIUSD)
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From Sep 2023 to Sep 2024