Uniswap Price Jumps 8%! Can UNI Coin Price Holds Its Gains?

Uniswap Price Jumps 8%! Can UNI Coin Price Holds Its Gains?

The post Uniswap Price Jumps 8%! Can UNI Coin Price Holds Its Gains? appeared first on Coinpedia Fintech News

The crypto industry is about to conclude the week on a bullish note as it has experienced 5/6 green days so far. Further, the UNI price has added 8.29% within the past day and has added approximately 18% this week, highlighting a strong bullish sentiment in the crypto space.

The Uniswap price traded between $6.522 and $6.891 for a period, following which the market lost momentum and the price recorded a correction of over 7.5% in valuation. After this, the price traded sideways for a while, indicating a weak price action for the coin.

As the market volatility grew, the token recorded another correction of 13%. Following this, the Uniswap traded in a closed range between $5.674 and $6.00 for six days.

After multiple attempts, the bulls gained just enough momentum to break out of the resistance level where it traded sideways for the next eight days. The Uniswap coin added approximately within four days, following which the price traded sideways for a while.

Recently, the price regained momentum, added approximately 10% in valuation, and is on the verge of testing its resistance level of which the outcome is unpredictable.

Is Uniswap Coin A Good Investment?

The technical indicator, MACD, displays a constant rise in the histogram, indicating increased buying-over-selling pressure in the market. Moreover, the averages continue to rise, suggesting the price will gain value in the coming time.

If the market pushes the price above the resistance level of $7.635, the bulls will regain momentum and test its upper resistance level of $8.053. Further, if the bulls hold the price at that level, it will set the stage for Uniswap price to attempt to test its upper limit of $8.50 in the upcoming weeks.

Conversely, if a trend reversal occurs, the UNI coin price will lose momentum and fall to test its support level of $7.230. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $6.891 this month.