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The Uniswap token has retained its trendy characteristics for about three consecutive sessions on the daily chart. Yet the market retains an impressively positive stance against the general downturn in the crypto market. This positions it on a good path to seeing more gains in the coming sessions.
UNI Statistics:
Current UNI Value: $10.98
Uniswap Market Cap: $6,558,233,615
Uniswap Circulating Supply: 599,957,295
UNI Total Supply: 1,000,000,000
Uniswap CoinMarketCap Rank: 17
Price activity in the UNI/USDT daily market has continued upward even in today’s trading session. Price action in this market had previously rebounded from support at the $8.79 mark. Ever since then, the market has continued upward, rising through Exponential Moving Average (EMA) lines.
Price increases seen in today’s trading session have been significant, and upside forces in the market are holding up quite well. This token continues to trade at a considerable distance above the EMA lines. Meanwhile, the Moving Average Convergence Divergence (MACD) lines are converging for a crossover above the equilibrium level. This signals that the upside correction may persist further, suggesting that crypto signals targeting higher marks may be worth a try.
The Ongoing Upside Correction in the UNI/USDT Looks Healthy
Uniswap’s price action has continued upward even on a 4-hour market chart. A renewed upside correction had begun above EMA lines. By careful examination, we can see that the momentum of price movement seems to have been on the increase. Likewise, we can see that the lines of the MACD have a renewed upside trajectory in the most recent sessions.
This occurred following a previous deflection, which was reversed by bullish activities in the market. The bars of the MACD above the equilibrium level stay solid green and appear to be getting taller, suggesting that upside forces may be getting even stronger. At this point, traders can still aim at the $11.50 mark or the technical resistance at the $12.00 mark.
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