UNI Sets New ATH At $45 And Could Extend Gains Further

UNI sets new ATH at $45 with the coin gaining momentum against the US dollar with the price likely to continue higher above it in the near term so let’s read more in our latest altcoin news today.

UNI sets new ATH and marked a new increase after forming a new base above the $40 level against the US dollar. The price is trading above the $42 and the 100 simple moving average with the break above a major contracting triangle with resistance near the $40 on the 4-hour charts of the pair that could continue higher if it clears the $45 and the $45.50 resistance levels in the near-term.

After forming a support base above these levels with UNI starting a fresh increase. The last swing low was near $39.30 before the bulls pushing the price higher above $42. There was a break above a major contracting triangle with the resistance near $40 on the 4-hour chart of the pair. The pair even broke the $43 level and the $44 resistance levels. The new all-time high is formed near $45.50 with a bullish angle, unlike BTC and ETH.

The price is now trading nicely above the $42 and the 100 simple moving average. The immediate support is close to the $43.70 level and it is close to the 23.6% fib retracement level of the upwards movement from the $39.30 low to $45.05 high while on the upside, the price is facing near the $45 level. Closing above this could open the doors for more gains in the near term. The next key resistance could be near $46.50 above which the bulls will aim to test the $50.00 level.

If the UNI price fails to climb above $45.50 it could correct lower with the first major support being near the $43.70 and the $43.50 levels. The main support is forming near the $42.00 zone with it nearing the 50% fib retracement of the upwards movement from the $45.05 high with a new downside breaking below the $42.00 support could open the doors for a new push towards $40. The 4-hour MACD for the pair is gaining momentum in the bullish zone with the 4-hour RSI for the pair being well above the 60 levels.

As reported, The leading decentralized exchange Uniswap deployed V3 contracts to all Ethereum test networks and in the announcement, Uniswap Labs confirmed that the V3 core protocol and periphery smart contracts have deployed to Ropsten, Kovan, Rinkeb, and Goerli.