UNI has initiated a new upward movement following a consolidation above the $4.75 threshold in its value against the US dollar. #Uniswap has exhibited a notable surge, surpassing the $5.40 mark against the US dollar. The price is expected to maintain its upward trajectory, potentially surpassing the $6.00 and $6.20 levels in the near future.
On The Daily Chart:
Buyers are confident in UNI tokens as UniSwap price broke above the 200 EMA and seeks to retest key support. Higher highs and lows, along with positive EMAs, indicate potential value appreciation. On the one-day chart, a doji candle near the supply zone prompts a retest. A strong rebound may lead to a 20-30% surge in the next few weeks. UniSwap token is in an accumulation phase based on candlestick patterns.
On The 4-Hour Chart
Upon analyzing the 4-hour chart, it is evident that UNI is currently trading within a rising channel pattern. Notably, there has been a breakout of a Bullish Flag pattern, indicating a potential upward movement. UNI is poised to surpass the previous high reached on July 14th. Around the $5.20 mark, UNI has formed a robust support level, leading to a subsequent price increase. On July 13th, UNI successfully broke through a significant resistance and climbed to a high of $6.15 before consolidating its gains.
According to Coingabbar Price Analysis, The market capitalization of this #UNI is estimated to be $4,537,142,523. The 24-hour trading volume for the coin is around $6,019,293,133.
KEY LEVELS :
RESISTANCE LEVEL : $6.50-$7.00
SUPPORT LEVEL : $5.60-$5.00
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