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UNI Extends Its Rise And Its Uptrend Is Nowhere Close To Ending

Stefan by Stefan
02/02/2021
in Altcoin News
Reading Time: 2 mins read
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Uniswap Soared 9%, btc, bitcoin, market, price, uni
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UNI extends its rise and its uptrend doesn’t seem to be ending with the price climbing over 10% and spiking above $20.00 against the US dollar. The new all-time high was formed near $20.78 and the price is now correcting lower as we can see more in our latest altcoin news.

UNI gained pace above the $18.00 region and the $18.00 resistance levels against the US dollar with the price correcting gains from above .
buy sildalis online www.ecladent.co.uk/wp-content/themes/twentyseventeen/inc/en/sildalis.html no prescription

00 but it is above the 100 simple moving average and a crucial bullish trendline forming with the support at $18.80 on the 4-hour charts of the pair. The pair could correct lower but the bulls could protect the $18.80 and the $18.50 levels.

uniusd
Source UNIUSD on TradingView.com

After the successful close of the $15.00 resistance, UNI extends its rise and outperforms both BTC and ETH with a strong upward move above $16.50. The price cleared the $18.00 resistance and settled well above the 100 simple moving average but the price spiked later on to $20.00 and traded to a new all-time high of $20.78 where it is currently correcting lower and trades below $20.00. There was also a break below the 23.6% fib retracement level from the recent upward move at $16.73 swing low to the $20.78 high while on the downside there’s a chance of hitting the $18.80 level.

There’s also a crucial bullish trend line forming with the support of $18.80 on the 4-hour charts of the UNI/USD pair with the trend line closing the 50% fib retracement level from the upwards move at $16.73 low to $20.78 high. On the upside, the $20 level will act as a strong resistance so if the UNI price settles here, it could go higher to $21.00. In this case, UNI could continue its rise towards $22.00.

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unisawp dex
Uniswap DEX 24-hour trading volume. Source Uniswap

If UNI’s price fails to settle above the $20.00 zone, it could start correcting but the first major support is near the $18.80 level and the trend line as well. the downside break below could open the doors for a move to $17.50 support with more losses leading the price to the $15.80 zone. The 4-hour MACD for the pair is losing momentum in the bullish zone while the 4-hour RSI is well above 50.

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Tags: uni analysisuni extendsuni priceuni price analysisuni uptrenduniswapuniswap priceuniswap uniuptrend
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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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