UNI worth began a recent rise above the $9.50 resistance. Uniswap is displaying constructive indicators and might even see extra upside above the $10.00 resistance.
- UNI began a recent rally above the $9.50 resistance zone.
- The worth is buying and selling above $9.60 and the 100 hourly easy shifting common.
- A key bearish pattern line is forming with resistance close to $10.15 on the hourly chart of the UNI/USD pair (Supply: Kraken).
- The pair could search extra upside if there’s a clear break above the $10.20 resistance.
UNI worth stays supportive
After forming a base above $8.75, Uniswap began a recent rise like Bitcoin and Ethereum. UNI worth accelerated above the $9.20 and $9.50 resistance ranges.
The worth even broke above the $10.00 resistance zone. A excessive of $10.32 was shaped earlier than the worth started a downward correction. A break beneath the $10.00 stage and the 23.6% Fibonacci retracement of the upward transfer from the $8.72 swing low to $10.32 excessive.
UNI continues to be buying and selling above $9.50 and the 100 hourly easy shifting common. Rapid resistance lies close to $10.00. The following key resistance is close to $10.20. There’s additionally a key bearish pattern line forming with resistance close to $10.15 on the hourly chart of the UNI/USD pair.
An in depth above $10.20 may open the door for additional positive aspects within the close to time period. The following key resistance is prone to be close to $10.65, above which bulls could take a look at the $11.50 stage. If there may be additional upside, UNI may rise to $12.00.
Is Uniswap’s decline restricted?
If UNI worth fails to climb above $10.00 or $10.20, a sluggish decline is probably going. First main help is seen close to $9.50, the 50% Fibonacci retracement stage of the upward transfer from the $8.72 swing low to $10.32 excessive.
The following main help is close to $9.35. A break beneath the $9.35 help may open the door for an increase in direction of $9.00.
Technical indicators
Hourly MACD – UNI/USD MACD is dropping momentum within the bullish zone.
Hourly RSI (Relative Power Index) – The RSI for UNI/USD is above the 50 stage.
Main help ranges – $9.50, $9.35 and $9.00.
The primary resistance ranges – $10.00, $10.20 and $10.65.
