Uniswap (UNI) price has recently gained momentum, experiencing a significant price surge that signals a bullish trend in the market. Trading above a vital support level, UNI shows signs of strengthened momentum, reflecting an upward shift in investor sentiment. This rebound aligns with a widespread recovery across the cryptocurrency market, suggesting a potential resurgence as November approaches. UNI eyes could be targeting the $20 mark in the coming weeks.
Uniswap Poised for Massive 134% Upsurge
The UNI price has seen a notable price increase. The price of UNI is currently at $8.23, up by 4.42% over the last day, continuing its recent bullish trend.
The 24-hour trading range shows UNI fluctuating between $7.83 and $8.26, reflecting growing investor interest. However, UNI remains significantly below its all-time high of $44.97, recorded in May 2021, indicating an 81.68% drop.
The current analysis highlights a resistance level around $10, with further barriers at $15 and $20. Breaking these levels could propel the top coin towards the $20 target, surging by 134%, especially if bullish momentum continues.
The Moving Average Convergence Divergence (MACD) indicator below the price chart signals slight bullish momentum. The MACD line (in blue) is marginally above the signal line (in orange), and the histogram shows green bars, indicating positive sentiment.
According to Coinglass, Uniswap’s UNI derivatives have experienced a significant increase in trading activity. Recent data indicates a strong rise in trading volume and open interest, signaling heightened market interest.
UNI’s bullish momentum and rising market interest suggest a strong upward potential. Breaking resistance levels could propel Uniswap to the $20 target, with ongoing trading volume increases bolstering this possible breakout.
Frequently Asked Questions (FAQs)
The main resistance levels for UNI are at $10, $15, and $20. Clearing these levels could pave the way toward a breakout to $20.
From its current price of $8.23, reaching $20 would imply a potential upsurge of approximately 134%.
UNI’s all-time high was $44.97, recorded in May 2021. At the current price, it is approximately 81.68% below this peak.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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