The Uniswap market has broken through the $7.00 price level. Additionally, the coin has seen a further price increase of 7.58%. The ongoing session, as a result, is occurring above important technical levels that support further price increases, even as price action appears to be under modest downward pressure.
UNI Statistics
Current Price: $7.28
Market Capitalization: $4.57B
Circulating Supply: 628.73M
Total Supply: 1B
CoinMarketCap Rank: 29
Key Price Levels
Resistance: $7.50, $8.00, $8.50
Support: $7.00, $6.50, $6.00
UNI Sets Sail Toward Higher Price Marks
Price activity in the Uniswap daily market appears to have a clear upward trajectory, as its price action occupies key levels. Over the past three sessions, bullish activity has been dominant. Even now, the last price candle on the chart is a moderate but green candle that stands above the 9-day Exponential Moving Average (EMA) curve.
Similarly, the Moving Average Convergence Divergence (MACD) lines are above the equilibrium level and have just delivered an upward crossover. The last bar of the MACD histogram also appears considerably longer than the previous one, aligning to suggest growing bullish momentum.
Uniswap Eyes the $7.50 Mark
The Uniswap market on smaller time frames has also posted significant upside progress. On the 4-hour chart, price action has been moving sharply upward, leaning significantly off the 9-day EMA line.
At the same time, the MACD indicator lines can be seen progressing upward above the equilibrium level. All the MACD histogram bars are solid green and progressively taller. Considering this, it appears that price activity may experience a smooth rally through the $7.50 price level and toward the $8.00 mark.
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