{"id":26872,"date":"2023-07-17T05:52:34","date_gmt":"2023-07-17T09:52:34","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=26872"},"modified":"2023-07-17T05:52:34","modified_gmt":"2023-07-17T09:52:34","slug":"uniswaps-uni-price-could-soon-rally-above-6-heres-why","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/17\/uniswaps-uni-price-could-soon-rally-above-6-heres-why\/","title":{"rendered":"Uniswap\u2019s UNI Price Could Soon Rally Above $6 \u2013 Here\u2019s Why"},"content":{"rendered":"

Uniswap\u2019s UNI started a decent increase above $5.35 against the US Dollar. The price is likely to continue higher above $6.00 and $6.20 in the near term.<\/em><\/p>\n

UNI started a fresh increase after forming a base above the $4.75 level against the US dollar.
\nThe price is trading above $5.65 and the 100 simple moving average (4 hours).
\nThere was a break above a major contracting triangle with resistance near $5.35 on the 4-hour chart of the UNI\/USD pair (data source from Kraken).
\nThe pair is likely to continue higher if it clears the $6.00 and $6.20 resistance levels in the near term.<\/p>\n

Uniswap\u2019s UNI Regains Traction<\/h2>\n

After forming a support base above $5.00, UNI started a fresh increase. The bulls were able to push Uniswap\u2019s price above the $5.25 and $5.30 resistance levels, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was also a break above a major contracting triangle with resistance near $5.35 on the 4-hour chart of the UNI\/USD pair. The pair gained pace and tested the $6.30 zone. A high is formed near $6.291 and the price started a downside correction.<\/p>\n

There was a break below the $6.00 level. UNI price tested the 50% Fib retracement level of the upward move from the $5.09 low to the $6.291 high.<\/p>\n\n

Source: UNIUSD on TradingView.com<\/a><\/p>\n

The price is now trading above $5.50 and the 100 simple moving average (4 hours). On the upside, the price is facing hurdles near $6.00 and $6.10. A close above the $6.10 level could open the doors for more gains in the near term. The next key resistance could be near $6.30, above which the bulls are likely to aim a test of the $6.80 level. Any more gains might send UNI toward $7.00.<\/p>\n

Dips Supported?<\/h2>\n

If UNI price fails to climb above $6.00 or $6.20, it could correct further lower. The first major support is near the $5.70 level. The next major support is near the $5.50 level.<\/p>\n

It is close to the 61.8% Fib retracement level of the upward move from the $5.09 low to the $6.291 high. A downside break below the $5.50 support might open the doors for a push toward the key $5.10.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for UNI\/USD is gaining momentum in the bullish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for UNI\/USD is well above the 50 level.<\/p>\n

Major Support Levels \u2013 $5.65, $5.50 and $5.10.<\/p>\n

Major Resistance Levels \u2013 $6.00, $6.30 and $6.80.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Uniswap\u2019s UNI started a decent increase above $5.35 against the US Dollar. The price is likely to continue higher above $6.00 and $6.20 in the near term.<\/em><\/p>\n

UNI started a fresh increase after forming a base above the $4.75 level against the US dollar.
\nThe price is trading above $5.65 and the 100 simple moving average (4 hours).
\nThere was a break above a major contracting triangle with resistance near $5.35 on the 4-hour chart of the UNI\/USD pair (data source from Kraken).
\nThe pair is likely to continue higher if it clears the $6.00 and $6.20 resistance levels in the near term.<\/p>\n

Uniswap\u2019s UNI Regains Traction<\/h2>\n

After forming a support base above $5.00, UNI started a fresh increase. The bulls were able to push Uniswap\u2019s price above the $5.25 and $5.30 resistance levels, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was also a break above a major contracting triangle with resistance near $5.35 on the 4-hour chart of the UNI\/USD pair. The pair gained pace and tested the $6.30 zone. A high is formed near $6.291 and the price started a downside correction.<\/p>\n

There was a break below the $6.00 level. UNI price tested the 50% Fib retracement level of the upward move from the $5.09 low to the $6.291 high.<\/p>\n

Source: UNIUSD on TradingView.com<\/a><\/p>\n

The price is now trading above $5.50 and the 100 simple moving average (4 hours). On the upside, the price is facing hurdles near $6.00 and $6.10. A close above the $6.10 level could open the doors for more gains in the near term. The next key resistance could be near $6.30, above which the bulls are likely to aim a test of the $6.80 level. Any more gains might send UNI toward $7.00.<\/p>\n

Dips Supported?<\/h2>\n

If UNI price fails to climb above $6.00 or $6.20, it could correct further lower. The first major support is near the $5.70 level. The next major support is near the $5.50 level.<\/p>\n

It is close to the 61.8% Fib retracement level of the upward move from the $5.09 low to the $6.291 high. A downside break below the $5.50 support might open the doors for a push toward the key $5.10.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for UNI\/USD is gaining momentum in the bullish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for UNI\/USD is well above the 50 level.<\/p>\n

Major Support Levels \u2013 $5.65, $5.50 and $5.10.<\/p>\n

Major Resistance Levels \u2013 $6.00, $6.30 and $6.80.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-26872","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=26872"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26872\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26872"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}