Uniswap Price Analysis: UNI Crypto Consolidates below the Rising Parallel Channel!

  • Uniswap price consolidated below the parallel rising channel on the daily price chart.
  • UNI crypto trades below the daily moving average of 20, 50, 100 and 200 days.
  • The UNI / BTC pair is at 0.0002991 BTC with an intraday gain of 5.78%.

Uniswap price is sharply rising upward on the daily price chart. The token was initially traded below a line with a downward slope, but was able to exit the pattern and into the channel with an upward slope. The current growing momentum needs to be sustained for the token to cross the daily chart. UNI investors must hold onto investments until the token picks up momentum and reaches a respectable resistance level. The UNI coin is currently trading midway between the upper and lower trend lines of the parallel ascending channel. The UNI bulls must provide the necessary upward push for the token to move towards the upper trend line.

Uniswap’s market cap increased 4.02% from the previous day to an estimated current price of $ 5.67. Trading volume increased by 70.04% during the intraday trading session. This shows that the bulls are pushing the token towards the upper trendline. The ratio of volume to market capitalization is 0.03135.

On the daily chart, the UNI coin price is fluctuating within a consolidation phase below the parallel ascending channel. The coin is currently going upstream towards the trend line, so the UNI bulls need to stay close. To reduce the volatility caused by the bears during the intraday trading session, it is necessary to improve the volume change of the UNI coin, which is now below average. The price of the UNI coin must maintain its upward pace after its breakout.

What do the Technical Indicators on UNI suggest?

The price of the UNI coin has fluctuated within a parallel rising channel on the daily price chart. The token must advance towards the upper trend line to break free from the ascending pattern. The growing momentum of the UNI coin during the consolidation phase is indicated by technical indicators.

The Relative Strength Index shows the growing momentum of the UNI coin. The RSI is approaching the overbought zone at 60. The MACD can be used to view the consolidation period of the UNI currency. The MACD line is below the signal line, but with a narrower margin. Investors in UNI should keep an eye on the daily chart for any trend changes.

Conclusion

Uniswap price is sharply rising upward on the daily price chart. The token was initially traded below a line with a downward slope, but was able to exit the pattern and into the channel with an upward slope. The current growing momentum needs to be sustained for the token to cross the daily chart. UNI investors must hold onto investments until the token picks up momentum and reaches a respectable resistance level. The UNI coin is currently trading midway between the upper and lower trend lines of the parallel ascending channel. The growing momentum of the UNI coin during the consolidation phase is indicated by technical indicators. The growing momentum of the UNI coin during the consolidation phase is indicated by technical indicators. Investors in UNI should keep an eye on the daily chart for any trend changes.

Technical levels

Support Levels: $ 5.15 and $ 4.70

Resistance Levels: $ 6.00 and $ 6.65

Disclaimer

The views and opinions stated by the author, or any person mentioned in this article, are for informational ideas only and do not establish any financial, investment or other advice. Investing or trading crypto assets carries the risk of financial loss.

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