Uniswap On The Verge Of A Strong Comeback – Can UNI Break And Hold $6.7?
The post Uniswap On The Verge Of A Strong Comeback – Can UNI Break And Hold $6.7? appeared on BitcoinEthereumNews.com.
Uniswap (UNI) price targets a comeback to $6.7 as bullish momentum continues to build. A break above the key level could signal a renewed bullish trend potentially leading to further gain for the cryptocurrency. With market sentiment gradually shifting, the question now is can Uniswap maintain its momentum and hold the line at $6.7, or will resistance prove too strong? This article aims to deliver an in-depth analysis of Uniswap’s current price action as it nears the $6.7 resistance level, evaluating whether the crypto asset has the momentum to break through and maintain its gains. Additionally, the article will inform traders about Uniswap’s prospects and highlight the potential opportunities ahead. UNI’s price is currently trading at around $6.51 and has increased by 2.11% with a market capitalization of over $3.9 billion and a trading volume of over $102 Million as of the time of writing. In the last 24 hours, the asset’s market cap has increased by 2.07%, while its trading volume has decreased by 11.39%. Analyzing Uniswap’s Recent Price Action: The Road To $6.7 Currently, UNI’s price on the 4-hour chart is demonstrating bullish momentum as it has crossed above the 100-day Simple Moving Average (SMA) approaching the $6.7 resistance level. The digital asset crossing above this key indicator signals that positive sentiment is growing which could potentially drive further gains. UNI poised for further gains after surpassing the 100-day SMA | Source: UNIUSDT on Tradingview.com Additionally, an analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line of the indicator has successfully risen above 50% and is currently trending around 56%, suggesting that the bulls are still in control and could drive the price higher. On the 1-day chart, while Uniswap remains below the 100-day SMA, it is showing bullish resilience, steadily advancing toward the…
Filed under: News - @ August 17, 2024 10:05 pm