Uniswap Bulls Set Sights On $16.9 Resistance As Uptrend Extends

Name	Symbol	Market	Market Cap ($)	Algorithm
Uniswap	UNIUSD	Crypto	11,502,479,338	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Uniswap

UNIUSD

Crypto

11,502,479,338

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.060	0.39%	15.25	15.25	15.25

Price Change

Price Change %

Current Price

Bid Price

Offer

0.060

0.39%

15.25

High Price	Low Price	Open Price	Prev. Close	52 Week Range
15.28	15.08	15.14	15.19	4.71 - 17.03

High Price

Low Price

Open Price

Prev. Close

52 Week Range

15.28

15.08

15.14

15.19

4.71 - 17.03

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	00:21:35	16.65	15.28	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

00:21:35

16.65

15.28

USD

Price x Volume	Volume	Base Symbol	Related Pairs
357,097.70	23,525.68	UNI	UNIEUR	UNIGBP	UNIBTC

Price x Volume

Volume

Base Symbol

Related Pairs

357,097.70

23,525.68

Uniswap Bulls Set Sights On $16.9 Resistance As Uptrend Extends

01/12/2024 4:30am

NEWSBTC

Uniswap (UNI) is gaining impressive momentum, reigniting hopes for a continued bullish run. As the token powers up, its next target could be the $16.9 mark, a critical level that could set the stage for even greater gains. With momentum building, the question is whether UNI can break through this resistance and push toward new heights. The aim of this article is to analyze Uniswap’s recent surge, focusing on its potential to break through the key $16.9 resistance level. This analysis will determine if UNI is poised for further gains or challenges in breaking through this critical price point by examining the factors driving UNI’s rally, including technical indicators and market sentiment. Examining UNI’s Recent Momentum Surge On the 4-hour chart, UNI is showing strong bullish strength, attempting to break out of its consolidation zone. Trading above the 100-day Simple Moving Average (SMA), the token is targeting the key $16.9 resistance level, signaling the potential for additional upward movement if it maintains its position above the SMA. An examination of the 4-hour Relative Strength Index (RSI) shows that the RSI has climbed back above the 61% threshold after experiencing a decline to 56% signaling a resurgence in buying pressure, reflecting renewed bullish movement in the market. A persistent climb would indicate strong overbought conditions, suggesting robust demand and the possibility of more price growth. Related Reading: Uniswap Processes Over $2 Trillion On Ethereum: UNI Bull Run Inevitable? Also, the daily chart showcases UNI’s robust upward momentum, highlighted by the formation of a positive candlestick pattern as the price rebounds, indicating the potential for further gains. Its position above the SMA solidifies the positive trend, signaling consistent strength. As UNI continues its ascent, it inspires growing market confidence and paves the way for an extended increase. Lastly, the daily chart’s RSI recently hit 70%, suggesting that Uniswap has entered overbought territory, reflecting strong bullish sentiment. While this suggests an extended upside, it also raises the risk of a pullback if buying pressure becomes excessive. Will Uniswap Reach New Heights? Tracking The Path Toward $16.9 Uniswap is exhibiting strong upbeat strength, with $16.9 acting as a key resistance level to watch out for. If the token maintains its upward trajectory, it could soon test this level. A successful breakout above $16.9 could open the door to new highs, setting the stage for gains and a possible rally to even higher price targets. Related Reading: Uniswap Rallies In Bearish Conditions, Can UNI Break New Grounds? However, if UNI fails to maintain its momentum, a pullback or consolidation may follow, potentially driving the price toward the $11.8 support level. A decisive break below this level might lead to more declines, with the next support zone at $10.3 and below. Featured image from Adobe Stock, chart from Tradingview.com

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UNIUSD Uniswap