🚀🚀🚀 $UNI Price Prediction – Uniswap Turns Green and Eyes More Upsides
UNI is on an upward trajectory, breaking through the $10.00 resistance mark and showing promising signs for further gains above $11.75. The recent bullish movement has been supported by UNI trading above $11.00 and the 100-hourly simple moving average. Notably, a bullish trend line resistance near $9.50 was breached, indicating strong bullish momentum.
Although encountering resistance near the $11.75 level, UNI is consolidating its gains around the 23.6% Fibonacci retracement level from its recent swing low of $8.70 to a high of $11.78.
With UNI currently trading above $11.00, immediate resistance lies at $11.50, followed by the crucial $11.75 mark. A successful breach of $11.75 could pave the way for further upward movement, with targets at $12.20 and potentially $12.50, or even $13.50.
However, if UNI struggles to surpass the $11.50 or $11.75 resistance levels, it might undergo a corrective phase. Initial support is anticipated around $11.05, with further support at $10.50 and $10.25, coinciding with the 50% Fibonacci retracement level. A breakdown below $10.25 could signal a deeper correction towards $8.80.
Analyzing technical indicators, the hourly MACD for UNI/USD shows signs of losing bullish momentum, while the hourly RSI hovers around the 50 level, indicating a neutral stance.
In summary, UNI's recent bullish momentum suggests a potential for further upside movement, provided it maintains above key support levels and successfully breaches resistance barriers. However, failure to sustain above resistance levels could lead to a corrective phase. Traders should closely monitor price action around key support and resistance levels for potential trading opportunities.
Source - newsbtc.com
