Uniswap Price Surges: UNI Anticipates further Upsides
Uniswap’s UNI token has experienced a notable increase in price, surpassing the $9.50 resistance level. The positive momentum suggests that UNI could potentially achieve higher gains by surpassing the $10.00 resistance.
UNI began its ascent by breaking above the $9.50 resistance zone. Currently, the price is trading above $9.60, along with the 100-hourly simple moving average. On the hourly chart of the UNI/USD pair, there is a significant bearish trend line forming near $10.15.
Should the price successfully breach the $10.20 resistance level, it could signal further upsides for UNI. This breakthrough may lead to key resistance points near $10.65 and potentially even push UNI towards $11.50. If the upward momentum continues, UNI might reach for $12.00.
However, if the price fails to surpass $10.00 or $10.20, a downward correction could be anticipated. The initial support lies around the $9.50 level or the 50% Fib retracement level. Further support can be found near $9.35. A break below $9.35 could result in a decline towards $9.00.
Analyzing the technical indicators, the MACD for UNI/USD suggests a weakening bullish trend, while the RSI remains above the 50 level.
Key support levels for UNI include $9.50, $9.35, and $9.00, with major resistance levels at $10.00, $10.20, and $10.65.