UNI Key Highlights as It Reaches Equilibrium
- Uniswap fluctuates between levels $26 and $30 as It Reaches Equilibrium
- UNI has a target price of $36.13
- UNI/USD risks decline to $23 if the current support is breached
Uniswap (UNI) Current Statistics
The current price: $27.16
Trading Volume: $315,288,878
Major supply zones: $55, $57, $59
Major demand zones: $22, $20, $18
Uniswap (UNI) Long-Term Analysis: Bullish
On August 16, Uniswap (UNI) attained its peak price of $31.46 but could not sustain the bullish momentum as it Reaches Equilibrium . The crypto declines to a $25.49 low and resumed a sideways move. Buyers could not sustain the bullish momentum above the recent high as the market reached the overbought region. Sellers pushed the coin twice to the $25 support but could not break below the current support. Nevertheless, buyers are pushing the altcoin to the previous high of $31.49.
If buyers overcome the $31 resistance, it will signal the start of a new uptrend. However, the sideways move will continue if the bulls fail to break the recent high. Meanwhile, on the August 16 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that UNI will rise but reverse at level 1.272 Fibonacci extension or level $36.13. From the price action, UNI is still struggling to break above the $31 high.
Uniswap (UNI) Indicator Analysis
Uniswap is at level 52 of the Relative Strength Index period 14. It indicates that the crypto is in the bullish trend zone and above the centerline 50. UNI is capable of rising on the upside. The 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend.
What Is the Direction for Uniswap (UNI) as It Reaches Equilibrium?
UNI/USD is in a sideways trend as bulls fail to break the recent high. The market is fluctuating between levels $26 and $30. Uniswap will resume trending if the range-bound levels are broken. Since August 7, the bulls and bears are yet to break the range-bound levels.
Also Read: Uniswap vs Pancakeswap – Battle of the DEXs
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