Uniswap (UNI) Has Created A New ATH, What Is The Direction In Cryptocurrency?
Uniswap’s UNI token gained more than 10% and even broke the $ 34.00 resistance against the US Dollar. The all-time high occurs around $ 34.87 and the price is likely to go up further.The UNI gained pace above the $ 30.00 and $ 32.00 resistance levels against the US Dollar. There was a break above a key bearish trend line at $ 28.00 on the 4-hour chart of the UNI / USD pair ( data source from Kraken ), according to analyst Aayush Jindal . The pair is likely to continue rising towards the $ 36.50 and $ 40.00 levels in the near term.
UNI Determines ATH
After a sharp downside correction well above $ 30.00, the UNI found support near the $ 20.00 level. It dropped as low as $ 18.68 and recently started a new increase. It overcame many obstacles found around $ 25.00 to enter a positive zone.
There was a clear break above the $ 28.00 resistance and the 100 simple moving average (4 hours). There was also a break above a key bearish trend line at $ 28.00 on the 4-hour chart of the UNI / USD pair. The bulls even pushed the price above the $ 32.00 resistance.
The all-time high is formed around $ 34.87 and it looks like the price could go higher. A significant resistance is near the $ 36.50 level. The next key resistance is located near the $ 40.00 level. The next big stop for bulls could be $ 42.00.
If the UNI price fails to move above the $ 35.00 zone, it may make a lower correction. The first major support is near the $ 32.50 and $ 32.00 levels.
The main support is currently forming near the $ 30.00 zone. A downside break below the $ 30.00 support could open the doors for a decline towards the $ 27.50 support. Further losses will likely drive the price into the $ 25.00 zone.
- 4-Hour MACD: The MACD for UNI / USD is gaining momentum in the bullish zone.
- 4-Hour RSI (Relative Strength Index): The RSI for UNI / USD is well above 70.
- Major Support Levels: $ 32.50, $ 30.00 and $ 27.50.
- Major Resistance Levels: $ 35.00, $ 36.50 and $ 40.00.