Uniswap (UNI) Bulls Are Making an Impressive Recovery

An upside correction has persisted in the Uniswap market, with its price action continuing upwards despite the crypto market losing $400 million. The token’s price has increased by 1.78%, advancing the upside correction that began in the previous session.

UNI Statistics:
Current UNI Value: $10.16
Uniswap Market Cap: $6,081,554,444
Uniswap Circulating Supply: 599,957,295
UNI Total Supply: 1,000,000,000
Uniswap CoinMarketCap Rank:18

Key Price Levels:
Resistance: $12.00, $14.00, $16.00
Support: $10.00, $8.00, $6.00

Uniswap Sets Out Toward the Resistance at the 50 Fibonacci Level

The recent UNI’s price increase has its roots in the previous session, as the market recovered from a sharp rebound off the 50% Fibonacci Retracement level. The ongoing session shows that market forces may continue to drive profits.

The observed price increase has returned the market to a bullish stance above the 20-day EMA lines. Similarly, the MACD indicator lines continue to turn sideways, with the bars below the equilibrium level getting shorter. This aligns with the upward price movement towards higher levels, suggesting that traders can still capitalize on bullish crypto signals.

UNI/USDT Buyers Are Under Little or No Pressure

In the Uniswap 4-hour market, price action has moved above the 50 and 100-day EMA lines, indicating that the token now trades above all EMA lines. The ongoing session appears to be under very little or no pressure from headwinds, as evidenced by the corresponding price candle having no upper shadow.

Additionally, the MACD indicator lines are continuing upwards towards the equilibrium level, with the leading line already crossing it. The latest MACD bar is solid green, indicating strong upward momentum in the market. Traders can aim for the $11.00 or $11.50 price levels.

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