Despite a Drop to $6.23, Uniswap (UNI) Shows Rising Pricing

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• A recent price assessment revealed a 2.73 % rise in the cost of UNI.
• UNI finds support at $6.23 and resistance at $6.64 over the past 24 hours.
• Bulls succeed in driving prices up, leaving bears drained.

Over the past few hours, Uniswap (UNI), which found support at $6.23, has been rising. According to the daily price statistics, the bulls were successful in raising prices by 2.73% to $6.47.

The price increase was caused by rising market capitalization and trading volume, which rose by 2.88% and 47.83%, respectively, to reach $4,934,761,362 and $150,172,343, progressively.

UNI/USD 24-hour price chart (Source: CoinMarketCap)

Technical indicators on the daily price chart indicate that the bulls are in charge of the market. The Bollinger Bands’ consistent movement shows steady buying and selling pressure. The bottom and top bands lie at 5.90 and 6.94, respectively. Additionally, the market is edging closer to the top band, bolstering the bullish attitude.

The market is calm right now because the RSI is at 53.40. This action may signal the onset of a persistent bullish trend.

The blue MACD line is going north, and the reading at 0.01 is above the signal line, indicating a bullish momentum.

UNI/USD 1-day price chart (Source: CoinMarketCap)

The market is trending upward because it is above both Moving Averages. However, the 5-day MA touches at 6.31 and the 20-day MA touches at 6.42, signifying a bearish crossing as the longer-term MA crosses over the shorter-term MA.

The market is in a healthy state, and this bullish trend may continue, according to the Stoch RSI, which is at 57.74 and headed north.

UNI/USD 1-day price chart (Source: CoinMarketCap)

Overall, the bulls must keep the market moving in their favor because it appears that the bears are losing interest as long as the price stays near the crucial $6.64 resistance level.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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