🚀🚀🚀 #UniSwap Price ($UNI ) Pumps 20%: Is This the Start of a Major Rally?
UNI Price Surges Above $10.50, Targeting Further Gains
Key Highlights:
- UNI has surged past the $10.50 resistance, showing strong upward momentum.
- Currently trading above $11.20, supported by the 100-hour simple moving average.
- A significant break above a bearish trend line at $10.35 was observed.
- #Bulls are aiming for further gains above $12.00 in the near term.
UNI Price Momentum
Uniswap's price established a base above $9.20 and started climbing, mirroring #bitcoin and #Ethereum 's movements. UNI broke through key resistance levels at $9.80 and $10.00.
The price surpassed a bearish trend line at $10.35, continuing its rise past $10.50 and $11.50, approaching the $12.00 mark. A peak was formed near $11.795, with the price now consolidating around the 23.6% Fibonacci retracement level of the rise from $9.28 to $11.95.
Currently, UNI is above $11.20 and the 100-hour simple moving average. Immediate resistance is at $11.55, followed by major resistance at $12.00. A close above $12.00 could lead to further gains, with targets at $12.20, $12.50, and potentially $13.50.
Support Levels for Uniswap
If UNI fails to break $11.95 or $12.00 resistance, it may correct downwards. Key support lies at $11.00 and $10.60, aligning with the 50% Fibonacci retracement from $9.28 to $11.95. Falling below $10.60 could lead to a decline towards $10.20.
Technical Indicators:
- Hourly MACD: Gaining momentum in the bullish zone.
- Hourly RSI: Above 50, indicating bullish sentiment.
- Major Support Levels: $11.00, $10.60, $10.20.
- Major Resistance Levels: $11.55, $12.00, $12.20.
Source - newsbtc.com
