Uniswap (UNI) Price Prediction: Bullish Trend Continues, With a Period of Initial Sideways Movement

The chart presents a strong bullish trend for Uniswap, with a period of initial sideways movement within a low-volatility range.

The price of Uniswap has dropped slightly in the last 24 hours, with a 6% decrease to $7.03 at the time of writing. The 24h trading volume is $485.64 million, and the market cap is $4.42 billion. The UNI price prediction is showing potential for further momentum, having gone up by 38.6% over the last 7 days.

Uniswap is currently facing difficulties breaking above the $7.5 level, encountering selling pressure that resulted in a pullback with a series of red candlesticks on the 4-hour chart. This is an indication that traders are liquidating positions or that there is a resistance point at that level.

However, if the price manages to stay above the range of $6.5–7.0, the trend is still intact, and gains are likely. Overall, there is a bullish sentiment, although there is potential for temporary consolidation or correction before proceeding with the next push up.

Uniswap (UNI) has demonstrated a strong trend, with a recent peak at about $7.12, only backing off a bit to the $7.01 level. The rally coincided with a broadening of the Bollinger Bands, reflecting rising volatility, with the price reaching the upper band at around $7.62, usually a sign of overbought status. The RSI supports that, decreasing from a reading of overbought 78.58 to 68.67, implying that the momentum of the rally is slowing.

Meanwhile, the MACD still remains above zero, demonstrating ongoing bullishness, yet with a narrowing histogram that illustrates diminishing momentum. The VWMA and support points at $5.43 and $4.74 offer a cushion if prices are retraced further.

In all, while the overall trend is still bullish, technical aspects suggest a potential temporary consolidation or brief correction. A healthy pullback into the $6.40-$6.80 zone would help the market correct itself before making a push back up.