Uniswap Price Analysis: Will UNI Retest $6.88 Level?


  • The current trading volume of Uniswap is at $164,049,069.00.
  • UNI gained approximately 3.54% within the last 24 hours.
  • Support for the bears has been established at $5.69
  • UNI price flashes signs of bullishness on 7-days price chart.

03 October 2022 : In this article we will walk you through Uniswap price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Uniswap, Is UNI a good investment? Uniswap support & resistance levels etc. But before diving deep into the UNI technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $729,661,588,345. The total trading volume stands at $45,441,080,186. Bitcoin shares 51.47 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,590.97 level after an upward movement of 2.17%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.38 percent reaching to $1,324.81 during the previous 24 hours.
While publishing this blog, BNB traded at $288.15, following a price change of 1.67% within the same time frame. XRP the native coin of XRP is down by -0.23 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.59% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Uniswap Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Uniswap (UNI)

UNI Resistance Levels UNI Support Levels
Resistance Level 1 $6.88 Support Level 1 $5.69
Resistance Level 2 $7.40 Support Level 2 $5.03
Resistance Level 3 $8.06 Support Level 3 $4.51

Uniswap Performance

The daily chart of Uniswap shows that the UNI price has surged up with a 3.54% increase in past 24 hours. The price value of the Uniswap (UNI) coin is standing at $6.45 with market capitalization $4,916,176,209.00 USD. UNI price changes 9.29% over the week while the trading volume is hovering around $164,049,069.00 USD.

Uniswap Price Analysis

UNI price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Uniswap.

Moving Averages Price Indicator
Simple Moving Average (10) 6.18 Buy
Exponential Moving Average (10) 6.22 Buy
Simple Moving Average (20) 5.95 Buy
Exponential Moving Average (20) 5.99 Buy
Simple Moving Average (50) 6.51 Sell
Exponential Moving Average (50) 6.50 Sell

In accordance with the conventional pivot, the crucial immediate resistance for UNI may be found at $6.88, followed by $7.40. In the meantime, the cryptocurrency's support levels were located at $5.69 and then $5.03. The Relative strength index (RSI) for UNI Coin is currently hovering at 70 for 14-days average line, which means UNI is moving towards overbought zone. While UNI’s Williams %R indicator is at -22.855 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The MACD line is standing above of the signal line after a positive crossover. Uniswap investors need to wait for any directional change over the daily chart.

Conclusions

As of now, Uniswap is doing well and is attempting to break out of the reddish zone. In order to invest in the digital currency, crypto investors want to see the UNI move into the positive zone. As far as we can tell, Uniswap is on its way up. In 2022 and beyond, the Uniswap price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.