- A bullish crossover was spotted in the key moving average, indicating bulls’ grip.
- UNI price has surged by 37% over the past 2 days.
Uniswap (UNI) price has displayed massive bullish momentum in the past 2 days and has surpassed a multi-month high. U.S. election results have impacted cryptocurrency positively.
The Uniswap price has risen by 37% in the past 2 days. The token’s price has gathered liquidity below the key moving averages and witnessed sharp buying.
On a wider time frame, the UNI crypto price has been rising by defending an ascending trendline. It has formed a bullish, engulfing candlestick pattern and surged by 30% in an intraday session.
After the massive shoot-up, the price has shown short-term profit booking. The cryptocurrency market is bullish. Let’s see how the UNI price performs in this bull phase.
Could the UNI Price Gain 30% in a Week?
When writing, the Uniswap price was trading at $8.97 with an intraday loss of 3.56%. The market capitalization was $5.38 Billion, and the 24-hour trading volume was $1.01 Billion. The trading volume has increased by 102%, demonstrating new players’ engagement.
It could be a bullish signal if the digital asset price manages to sustain over the $8.50 mark. The trading volume has also increased. That could play a crucial role in triggering a bullish rally. The UNI price is expected to gain 30% after a small buying spark.
On the other hand, if the UNI crypto price faces resistance from the $9.50 mark, it would be a bearish signal. Small players might prefer to book profit, which could trigger bearish momentum. Strong selling pressure can be anticipated once the price loses the $8.50 mark.
Based on the technical indicators, the RSI has triggered a golden crossover with the RSI-based moving average. RSI was heading toward the overbought zone, which showcases the bullish forecast.
The MACD has generated a bullish crossover, with the Signal line traveling over the Zero line. The histograms have flipped to green, indicating buyers’ dominance.
Is UNI Price Ready to Shoot-Up?
Universe of Crypto is a cryptocurrency analyst who believes that the Uniswap price has the potential to gain 60%. The price has triggered a successful breakout from a descending triangle pattern on a daily time frame.
$Uni
— Universe of Crypto (@UniverseCrypto7) November 6, 2024
Uni is moving amazing after its successful breakout from falling in daily time frame currently facing its resistance and first target if it clears it we will see it towards 17$ ✍️🚀#Crypto #Uni #uniusdt pic.twitter.com/ddnsTK8iWA
The bullish trend was halted near the $10 mark, and a price rejection was seen. If the UNI crypto price exceeds the $10 mark, it is expected to reach the $17 mark in the next few weeks.
Uniswap Price Prediction
The Uniswap price has demonstrated significant bullish momentum. Over the past two days, it has achieved a remarkable 37% price increase. The bullish crossover in key moving averages and the bullish engulfing candlestick pattern suggested a strong upward potential.
As of now, the UNI price trading above the $8.50 mark could indicate further bullish movement. On the other hand, resistance at $9.50 may trigger some profit-taking and bearish sentiment.
The increasing trading volume highlighted renewed interest from traders. Also, technical indicators like the RSI and MACD favored bullish trends.
There’s potential for UNI to gain an additional 30% in the upcoming week if upward momentum continues. However, vigilance is advised, as any decline below $8.50 could signal bearish pressure.
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.
