Charted: Uniswap’s UNI Remains Elevated, Why Uptrend Isn’t Over Yet


Uniswap’s UNI climbed over 10% and it even spiked above $20.00 against the US Dollar. A new all-time high is formed near $20.78 and the price is currently correcting lower.

  • UNI gained pace above the $18.00 and $18.80 resistance levels against the US dollar.
  • The price is currently correcting gains from well above $20.00, but it is above the 100 simple moving average (4-hours).
  • There is a crucial bullish trend line forming with support near $18.80 on the 4-hours chart of the UNI/USD pair (data source from Kraken).
  • The pair could correct lower, but the bulls are likely to protect the $18.80 and $18.50 levels.

Uniswap’s UNI Breaks $20

After a successful close above the $15.00 resistance, UNI extended its rise. It outperformed bitcoin and Ethereum, with a strong upward move above the $16.50 level.

How To Get Free Crypto  

The price even cleared the $18.00 resistance and settled well above the 100 simple moving average (4-hours). Finally, the price spiked above the $20.00 level and traded to a new all-time high at $20.78. It is currently correcting lower and trading below $20.00.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

There was a break below the 23.6% Fib retracement level of the upward move from the $16.73 swing low to $20.78 high. On the downside, there is a strong support forming near the $18.80 level.

Source: UNIUSD on TradingView.com

There is also a crucial bullish trend line forming with support near $18.80 on the 4-hours chart of the UNI/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $16.73 swing low to $20.78 high.

On the upside, the $20.00 level is a strong resistance. If UNI price settles above the $20.00 level, it could surpass the $20.80 and $21.00 levels. In the stated case, it could even rise towards the $22.00 level.

Coinbase Banner  

Dips Supported?

If UNI price fails to settle above the $20.00 zone, it could correct substantially. The first major support is near the $18.80 level and the trend line.

A downside break below the trend line support might open the doors for a push towards the $17.50 support. Any more losses may possibly lead the price towards the $15.80 zone (the last breakout zone).

Technical Indicators

4-Hours MACD – The MACD for UNI/USD is losing momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for UNI/USD is well above the 50 level.

Major Support Levels – $18.80, $18.50 and $17.50.

Major Resistance Levels – $20.00, $20.80 and $22.00.

Go to Source
Author: Aayush Jindal


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.