Could Uniswap Token (UNI) Form a Rounded Bottom and Price Hit $7.5?
- UNI price will create more bullish sentiment as the price bottoms below the key resistance as it seeks to break above.
- UNI ends the week with two bullish candlesticks.
- UNI price holds above the 8 and 20 EMAs.
Uniswap Token (UNI) had a rough start to the year, failing to maintain major support. This is because the price of the Uniswap token (UNI) surged from a high of $45 to his current $6.5. Its a long downtrend move. UNI’s price has affected most altcoins, including UNI’s price, thus struggling to keep up with Bitcoin (BTC) range movements. (Data from Binance)
Uniswap Token (UNI) price analysis on weekly chart
The cryptocurrency market hasn’t seen its best price swings lately, but that suggests some crypto assets haven’t shown much strength in bouncing off lows, breaking out of downtrends, and establishing bullish momentum. It does not mean
Despite price volatility slowing in recent weeks, UNI’s price continues to trade below key resistance at $6.6, preventing a rally to new highs.
UNI’s price bounced back in the region and quickly rebounded to highs of $8, dropping from a high of $45 to a low of $3.50, but continued to struggle to break out of that band, so the price was rejected.
UNI price ended the week looking more bullish as the bulls pushed the price higher to break the resistance at $6.7, setting a bullish move on UNI price heading into the new week.
UNI price needs to hold above $6.7 to converge on higher areas with more bullish sentiment. If the UNI price is rejected from this region, we may retest the region with the $5 price as a good support zone.
Weekly resistance to UNI price – $6.7.
Weekly support for UNI price – $5.
UNI price analysis on the daily (1D) chart
The BEL price looks bullish on the daily timeframe as the price forms a rounded bottom as it breaks through the neckline resistance.
The price of UNI is trading at $6.7 as the price tries to break above the 50 and 200 Exponential Moving Averages (EMA). The $6.3 price corresponds to UNI’s 50 and 200 EMA prices on the daily timeframe.
UNI’s relative strength index on the daily timeframe is above 45, suggesting low buying volumes.
UNI price daily resistance – $6.7.
UNI Price Daily Support – $5.
Featured Image From themarketperiodical, Charts From Tradingview Could Uniswap Token (UNI) Form a Rounded Bottom and Price Hit $7.5?
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