Uniswap (UNI) Price Prediction: UNI/USDT Market Sees an Extended Upside Retracement
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Uniswap (UNI) Price Prediction (January 2):
The Uniswap market had crash-landed on the support at the $12.74 price level. The market hovered above the mentioned support level for a while but broke out of the support three sessions ago.
UNI/USDT Long-Term Trend: Bearish (Daily Chart)
Key Price Levels:
Resistance: $95,000, $100,000, $104,000
Support: $90,000, $85,000, $80,000
Since the past three sessions, the Uniswap market has taken an upward trajectory. The ongoing session has made notable progress as the token now trades above the $14.00 price level. This has also placed the market further above the 50-day Moving Average (MA) lines. Also, the Stochastic RSI lines have continued to rise sharply upwards from the oversold region, technically affirming bullish influences in the market.
Uniswap (UNI) Price Prediction: UNI/USDT Minimally Regains Life
The Uniswap market has been rising steadily since the previous session. The trend seems to have held steady since the ongoing session has retained an upward trajectory. Also, price action continues to climb upward as the 20-day MA line deflects toward the 50-day MA line for a crossover.
Meanwhile, the ongoing session lies between the mentioned indicator lines. Also, the lines of the RSI lines are rising upward into the overbought region of the indicator. Technically, this suggests that price action may soon rise above all the MA lines on the chart. Consequently, this will strengthen bullish sentiment in the market.
Uniswap (UNI) Price Prediction: UNI/USDT May See More Bullish Thrust (4-Hour Chart)
The Uniswap 4-hour market has continued to present positive indications. This indication suggests that prices may gain more bullish traction. Meanwhile, the 20- and 50-day MA lines can be seen converging for a bullish crossover below price activity. The last price candle on the chart has appeared green and has placed the market above the 100-day MA curve.
In addition, the Stochastic RSI lines are in the oversold region and around the peak level of the indicator. Therefore, traders can see bullish sentiments in this market grow in subsequent sessions. This will, therefore, see the market push further toward the $15 and $16 price levels.
