UNI price has recently experienced a significant increase, surpassing the critical $10.50 resistance level. This upward trend in Uniswap’s value is indicative of potential further gains, with a possible target of surpassing the $12.00 resistance level. The price has shown strength by trading above $11.20 and the 100-hourly simple moving average. Additionally, a key bearish trend line was broken with resistance near $10.35 on the hourly chart of the UNI/USD pair.
Following a period of consolidation above the $9.20 level, Uniswap underwent a notable uptrend, similar to movements seen in Bitcoin and Ethereum. The price surged above the $9.80 and $10.00 resistance levels, demonstrating bullish momentum. The breakthrough of several resistance levels, including $10.50 and $11.50, led to a notable peak near $11.795. Currently, the price is consolidating near the 23.6% Fib retracement level, indicating a potential continuation of the upward trend.
UNI is currently above $11.20 and the 100-hourly simple moving average, with immediate resistance near the $11.55 level. The $12.00 resistance mark holds significance, as a successful breakout above this level could pave the way for further gains. Subsequent resistance levels to monitor include $12.20 and $12.50, with a potential target of $13.50 in the event of sustained bullish momentum. On the flip side, failure to surpass $11.95 or $12.00 could trigger a downside correction. The first major support level is anticipated near $11.00, followed by $10.60 or the 50% Fib retracement level. A breakdown below $10.60 might lead to a push towards $10.20.
The hourly MACD for UNI/USD is exhibiting bullish momentum, signaling a positive outlook for the price movement. Additionally, the hourly RSI is above the 50 level, indicating strength in the current trend. Key support levels to watch include $11.00, $10.60, and $10.20, while major resistance levels stand at $11.55, $12.00, and $12.20.
UNI price has shown signs of a potential uptrend, with key resistance levels to surpass for further gains. Technical indicators suggest a favorable scenario for UNI/USD, highlighting the possibility of continued positive momentum in the near term. Traders and investors should keep a close eye on the price action and key levels to make informed decisions in this dynamic market environment.
