UNI Technical Analysis – October 2021
Over the last 30 days, UNI decreased by 35%. After finding support at $17.7, the price had an upward breakout of 46%, leading to huge profits for those who bought the dip. The price failed to break previous resistance at around $27.30. Then, the price declined by around 18%. Nonetheless, the price started increasing again after UNI found support at $22.30.
In the last 7 days, UNI initially declined by around 18%. After that, the price had an increase of 20%. The new high is higher than the previous high, indicating that the trend is upward once again and that UNI could increase in the coming days.
In the intraday chart, volatility levels were high for UNI. Its price initially increased by 4%, only to then decrease by 5%. The price is in consolidation after that, and it may look to increase in the coming hours to retest resistance.
The 20-day moving average is below the price, indicating that the trend is upward and that the price could keep increasing in the coming days for UNI.
The 9-day EMA is also below the price and may act as support in the short run. This indicates that the price of UNI could keep increasing.
Relative Strength Index
The RSI of a daily chart has slightly declined recently, but it is still bullish and above 50, meaning that the buying pressure is still high. In a 4-hour chart, the RSI indicates more bullish tendencies and it may soon approach the overbought region, meaning that the price could increase.
The MACD line of a daily chart is slightly above the signal line and has moved above the baseline. This indicates that the momentum is bullish and that the price could keep increasing. As for the 4-hour chart, the MACD line is even more bullish, but the lines are slowly converging.
Fear & Greed
The fear and greed indicator suggests that the current emotion of UNI traders is greed, indicating that buyers have taken over.
The Fibonacci retracement level suggests that the price has recently retraced to the 61.8% level. Then, the price soared upwards close to the 23.6% extension level.
Price Prediction UNI – October 2021
Based on this technical analysis on Uniswap (UNI), its price could keep increasing in the coming days. If UNI breaks the projected resistance, then it could soon aim for a new all-time high. If BTC keeps increasing at the same rate as now, then UNI could as well reach $100 in the coming weeks.
Latest News for UNI – Affecting Price
Recent news regarding Uniswap shows that a former Barack Obama spokesperson has joined the Uniswap team to help them deal with rules and regulations that cryptocurrencies are facing from the SEC. This can positively affect Uniswap and builds more trust for the UNI community.