- Uniswap price has gained 22% in the past 3 days and exceeded the 20-day EMA.
- RSI has generated a golden crossover with an RSI-based moving average which is a bullish sign.
Since October 2023, the Uniswap crypto price chart has displayed slow and steady growth. After a correction phase, UNI surpassed the 20-day EMA surging over 20% in the past 3 days.
UNI has formed a triple-bottom pattern on the $7 level and bounced back. The price has jumped by 60% in a month and surpassed the key moving averages.
At press time, the Uniswap price traded at $10.93 with a wild-up move of 7.66% in the last 24 hours. The market capitalization is $6.48 Billion and the 24-hour trading volume is $278.90 Million.
Technical Analysis of Uniswap Price Over 1-D Timeframe
According to the technical chart, UNI price has faced resistance from the $12 hurdle thrice since April. Currently, the digital asset price is heading for the same level.
Historically, the Uniswap price has been facing difficulty in exceeding the $12 hurdle. Sellers seem to be stronger at this level and the price faces resistance. If the price forms a bearish candlestick pattern near the $12 mark, sellers may get the sign of selling and may drag down the price to the $7 level in the next few weeks.
On the other hand, if the price manages to surpass the resistance level of $12 and trading volume increases at the time of the breakout, buyers may show interest. If the chart structure manages to attract the buyers, the price may extend to the $20 hurdle in the next few months.
Turning to the technical indicators, the UNI price has exceeded the key moving averages which indicates the buyers’ grip. RSI is 57 and has developed a golden crossover with the RSI-based moving average.
Price vs Social Dominance
Based on the graph, social engagement has decreased in the past few days but the price has remained bullish. Suppose the interaction on social media like Instagram, X, and Telegram increases, it may impact the price positively.
UNI Secured Top Position in Terms of Top Gainers Today
🚀 A glance at today's top gainer on @BITFLEX: $UNI (+6.05%).
— BITFLEX (@BITFLEX) June 14, 2024
Trade $UNI now! 👉🏼 https://t.co/KSBBdRdB1p pic.twitter.com/Nv1khoxpNJ
Uniswap crypto is a top gainer by June 14 as it has triggered a pullback on the 4-H time frame. It is up by 7.66% in the past 24 hours and also exceeded the key moving average. In a 4-H time frame, it has triggered a pullback while on the daily time frame, the price has taken support on the 200-day EMA and bounced back.
Conclusion
Uniswap price has shown significant bullish momentum, with a 22% increase over the past 3 days and exceeding the 20-day EMA. The RSI has also generated a bullish signal with a golden crossover. The technical analysis suggests that the price is approaching a critical resistance level of $12. If this level is breached, we may see further upside potential, possibly reaching the $20 hurdle in the coming months.
Technical Levels
Uniswap price is expected to face resistance from the $12.00 and $15.50 mark. It may take support on the $8.80 and $7.00 levels.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.