{"id":455772,"date":"2021-02-02T07:18:37","date_gmt":"2021-02-02T07:18:37","guid":{"rendered":"https:\/\/wncen.com\/?p=455772"},"modified":"2024-06-11T14:13:05","modified_gmt":"2024-06-11T14:13:05","slug":"charted-uniswaps-uni-remains-elevated-why-uptrend-isnt-over-yet","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/charted-uniswaps-uni-remains-elevated-why-uptrend-isnt-over-yet\/","title":{"rendered":"Charted: Uniswap\u2019s UNI Remains Elevated, Why Uptrend Isn\u2019t Over Yet"},"content":{"rendered":"
Uniswap\u2019s UNI climbed over 10% and it even spiked above $20.00 against the US Dollar. A new all-time high is formed near $20.78 and the price is currently correcting lower.<\/em><\/p>\n After a successful close above the $15.00 resistance, UNI extended its rise. It outperformed bitcoin<\/a> and Ethereum<\/a>, with a strong upward move above the $16.50 level.<\/p>\n The price even cleared the $18.00 resistance and settled well above the 100 simple moving average (4-hours). Finally, the price spiked above the $20.00 level and traded to a new all-time high at $20.78. It is currently correcting lower and trading below $20.00.<\/p>\n There was a break below the 23.6% Fib retracement level of the upward move from the $16.73 swing low to $20.78 high. On the downside, there is a strong support forming near the $18.80 level.<\/p>\n <\/a><\/p>\n There is also a crucial bullish trend line forming with support near $18.80 on the 4-hours chart of the UNI\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $16.73 swing low to $20.78 high.<\/p>\n On the upside, the $20.00 level is a strong resistance. If UNI price settles above the $20.00 level, it could surpass the $20.80 and $21.00 levels. In the stated case, it could even rise towards the $22.00 level.<\/p>\n If UNI price fails to settle above the $20.00 zone, it could correct substantially. The first major support is near the $18.80 level and the trend line.<\/p>\n A downside break below the trend line support might open the doors for a push towards the $17.50 support. Any more losses may possibly lead the price towards the $15.80 zone (the last breakout zone).<\/p>\n Technical Indicators<\/p>\n 4-Hours MACD \u2013 The MACD for UNI\/USD is losing momentum in the bullish zone.<\/p>\n 4-Hours RSI (Relative Strength Index) \u2013 The RSI for UNI\/USD is well above the 50 level.<\/p>\n Major Support Levels \u2013 $18.80, $18.50 and $17.50.<\/p>\n Major Resistance Levels \u2013 $20.00, $20.80 and $22.00.<\/p>\n","protected":false},"excerpt":{"rendered":" Uniswap\u2019s UNI climbed over 10% and it even spiked above $20.00 against the US Dollar. A new all-time high is formed near $20.78 and the price is currently correcting lower. UNI gained pace above the $18.00 and $18.80 resistance levels against the US dollar. The price is currently correcting gains from well above $20.00, but it is above the 100 simple moving average (4-hours). There is a crucial bullish trend line forming with support near $18.80 on the 4-hours chart of the UNI\/USD pair (data source from Kraken). The pair could correct lower, but the bulls are likely to protect the $18.80 and $18.50 levels. Uniswap\u2019s UNI Breaks $20 After a successful close above the $15.00 resistance, UNI extended its rise. It outperformed bitcoin and Ethereum, with a strong upward move above the $16.50 level. The price even cleared the $18.00 resistance and settled well above the 100 simple moving average (4-hours). Finally, the price spiked above the $20.00 level and traded to a new all-time high at $20.78. It is currently correcting lower and trading below $20.00. There was a break below the 23.6% Fib retracement level of the upward move from the $16.73 swing low to $20.78 high. On the downside, there is a strong support forming near the $18.80 level. Source: UNIUSD on TradingView.com There is also a crucial bullish trend line forming with support near $18.80 on the 4-hours chart of the UNI\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $16.73 swing low to $20.78 high. On the upside, the $20.00 level is a strong resistance. If UNI price settles above the $20.00 level, it could surpass the $20.80 and $21.00 levels. In the stated case, it could even rise towards the $22.00 level. Dips Supported? If UNI price fails to settle above the $20.00 zone, it could correct substantially. The first major support is near the $18.80 level and the trend line. A downside break below the trend line support might open the doors for a push towards the $17.50 support. Any more losses may possibly lead the price towards the $15.80 zone (the last breakout zone). Technical Indicators 4-Hours MACD \u2013 The MACD for UNI\/USD is losing momentum in the bullish zone. 4-Hours RSI (Relative Strength Index) \u2013 The RSI for UNI\/USD is well above the 50 level. Major Support Levels \u2013 $18.80, $18.50 and $17.50. Major Resistance Levels \u2013 $20.00, $20.80 and $22.00.<\/p>\n","protected":false},"author":67,"featured_media":455774,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[82851,80532,82853,82852],"class_list":["post-455772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-unibtc","tag-uniswap","tag-uniusd","tag-uniusdt"],"acf":[],"yoast_head":"\n\n
Uniswap\u2019s UNI Breaks $20<\/h2>\n
Source: UNIUSD on TradingView.com<\/a><\/pre>\n
Dips Supported?<\/h2>\n