Uniswap (UNI) technical analysis:
Trade setup: Bullish breakout from Channel Down pattern was followed by a break above 200-day moving average ($5.00), which confirmed a bullish trend reversal to an Uptrend. Now the price is retesting that breakout level. Upside potential to $6.50 near-term, and if broken, price could revisit $7.50 thereafter. Uniswap is the biggest DEX – see On-chain data, and has been a beneficiary of the move to decentralized exchanges and non-custody trading solutions.
Trend: Uptrend on Short- and Medium-Term basis and Neutral on Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $4.75 (previous resistance), then $4.00. The Nearest Resistance Zone is $5.50, which it broke, then $6.50.
Trade setup: Bullish breakout from Channel Down pattern was followed by a break above 200-day moving average ($5.00), which confirmed a bullish trend reversal to an Uptrend. Now the price is retesting that breakout level. Upside potential to $6.50 near-term, and if broken, price could revisit $7.50 thereafter. Uniswap is the biggest DEX – see On-chain data, and has been a beneficiary of the move to decentralized exchanges and non-custody trading solutions.
Trend: Uptrend on Short- and Medium-Term basis and Neutral on Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $4.75 (previous resistance), then $4.00. The Nearest Resistance Zone is $5.50, which it broke, then $6.50.