Uniswap (UNI) Retraces the $7.00 Price Level

Price activity in Uniswap has been rebounding ever since price action tested support at the $6.00 baseline. The ongoing session has recorded a 2.82% gain. Additionally, price action appears to be moving above a key technical level.

Uniswap Statistics

Current Price: $6.66

Market Capitalization: $4.21B

Circulating Supply: 628.68M

Total Supply: 1B

CoinMarketCap Rank: 29

Key Price Levels

Resistance: $7.00, $8.00, $9.00

Support: $6.00, $5.00, $4.00

Uniswap Bulls Still Possess Significant Strength

Price action in the Uniswap market is advancing along a key technical level. The latest price candle has moved above the middle line of the Bollinger Bands. The Bollinger Bands also appear to be contracting.

The Smoothed Rate of Change (SROC) indicator shows a slight upward trajectory above the equilibrium level. Technically, the market still aligns with the notion of a continued upward retracement.

UNI Takes Support Above a Self-Fulfilling Base Level

Price action in the Uniswap market has continued to rise ever since rebounding off the middle line of the Bollinger Bands. The Bollinger Bands are now slightly trending upward, while the price remains above the middle band.

The most recent price candle appears to be standing tall above this level, suggesting that bullish momentum remains strong for now. The SROC line is positioned above the equilibrium level and is trending slightly upward along this technical zone. At this point, it seems the market may edge higher toward the $7.00 price level.

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