#2024WithBinance
Uniswap (UNI) Market Cap Exceeds $10 Billion with Room to Grow
The price of Uniswap (UNI) has seen impressive growth, surpassing $10 billion in market cap and gaining 80.44% in the last 30 days. With the current price at 67 on the Relative Strength Index (RSI), UNI is approaching the overbought zone but still has room to grow before signaling an immediate correction.
Despite a slight decline in the Average Directional Index (ADX) from 46 to 39, UNI remains in a strong uptrend with a trend strength above 25. If the uptrend continues, UNI could test resistance at $17.39, possibly reaching $20, its highest price since 2021.
UNI’s RSI is still below the overbought zone
The UniSwap RSI is currently at 67, meaning it is approaching the overbought zone but has yet to reach the 70 mark.
A RSI value above 70 typically indicates that the asset is overbought, but at 67, UNI still has room to grow without signaling an immediate correction
The RSI measures price momentum on a scale from 0 to 100, with values above 70 indicating overbought conditions and below 30 indicating oversold conditions.
Since the UNI RSI has remained above 70 during recent price highs, the current level of 67 shows that there is still potential for growth before a correction occurs.
