UNI Price Prediction – Uniswap Momentum Reignites, 15% Lift-off Possible
January 16 2024 - 12:28AM
NEWSBTC
UNI price is moving higher from the $5.65 support. Uniswap is up 5%
and it seems like the bulls could aim a fresh surge toward the
$8.00 zone. UNI started a fresh increase above the $6.00 and $6.20
resistance levels. The price is trading above $6.50 and the 100
simple moving average (4 hours). There was a break above a key
bearish trend line with resistance near $6.60 on the 4-hour chart
of the UNI/USD pair (data source from Kraken). The pair is showing
bullish signs and might rally if it clears the $7.25 resistance.
UNI Price Aims Higher After forming a support base above $5.65, UNI
started a fresh increase. The bulls were able to push Uniswap’s
price above the $6.00 and $6.20 resistance levels, outperforming
Bitcoin and Ethereum. There was a break above a key bearish trend
line with resistance near $6.60 on the 4-hour chart of the UNI/USD
pair. The pair even cleared the $6.75 resistance level. It is now
approaching the 50% Fib retracement level of the downward move from
the $8.24 swing high to the $5.67 low. UNI is now trading above
$6.50 and the 100 simple moving average (4 hours). Immediate
resistance on the upside is near the $6.95 level. The next key
resistance is near the $7.250 level. It is close to the 61.8% Fib
retracement level of the downward move from the $8.24 swing high to
the $5.67 low. Source: UNIUSD on TradingView.com A close above the
$7.25 level could open the doors for more gains in the near term.
The next key resistance could be near $7.65, above which the bulls
are likely to aim a test of the $8.00 level. Any more gains might
send UNI toward $8.25. Dips Supported in Uniswap? If UNI price
fails to climb above $6.95 or $7.25, it could correct further
lower. The first major support is near the $6.60 level or the 100
simple moving average (4 hours). The next major support is near the
$6.25 level. A downside break below the $6.25 support might open
the doors for a push toward $6.00. Technical Indicators 4-Hours
MACD – The MACD for UNI/USD is gaining momentum in the bullish
zone. 4-Hours RSI (Relative Strength Index) – The RSI for UNI/USD
is well above the 50 level. Major Support Levels – $6.60, $6.25 and
$6.00. Major Resistance Levels – $6.95, $7.25 and $8.00.
Uniswap (COIN:UNIUSD)
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From Mar 2024 to Apr 2024
Uniswap (COIN:UNIUSD)
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From Apr 2023 to Apr 2024