Uniswap Technical Analysis: UNI Remains Bullish For 24 Hours

Uniswap Technical Analysis shows a strong upward movement in the market, with prices increasing by 1.08 percent in the previous 24 hours. The cryptocurrency is priced at $6.18 and faces immediate resistance at $6.38. This analysis indicates that if the bulls hold on, prices may surge and reach $7 levels. However, if a bearish crossover occurs, the prices could drop and find support near $5.50 levels. The price of UNI/USD has increased in the last 24 hours and is now trading at $6.18. The cryptocurrency’s market capitalization has also dropped to $4,536,163,754, with a total volume exchanged of $175 million over the past 24 hours. Uniswap Price Action on the 24-Hour Price Chart In the 24-hour price chart, UNI/USD has higher highs, and higher lows have formed to suggest a bullish market trend. The UNI/USD pair could retreat lower as it comes up against some resistance at $6.38. The bullish engulfing pattern indicates that the bulls are in command of the market, as the buyers have entered after a recent sell-off. Uniswap UNI/USD 1-day price chart, Source: Tradingview Furthermore, the moving averages are corroborating this by indicating a bullish crossover; the 50-day SMA line (blue) has crossed above the 20-day SMA line (red), according to our technical indicators. The RSI indicator is presently trading at 70 levels, with no indications of overbought or oversold conditions. As the signal line (blue) has crossed above the histogra...