{"id":531237,"date":"2023-05-11T15:00:04","date_gmt":"2023-05-11T15:00:04","guid":{"rendered":"https:\/\/wncen.com\/?p=531237"},"modified":"2023-05-11T13:17:14","modified_gmt":"2023-05-11T13:17:14","slug":"uniswap-uni-surges-after-a-bumpy-ride-is-bearish-run-over","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/uniswap\/uniswap-uni-surges-after-a-bumpy-ride-is-bearish-run-over\/","title":{"rendered":"Uniswap (UNI) Surges After A Bumpy Ride, Is Bearish Run Over?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Uniswap (UNI) has been experiencing downward movement due to general market sentiment.\u00a0<\/span><span style=\"font-weight: 400\">The downtrend started on April 19, dropping<\/span><span style=\"font-weight: 400\"> from $6 to $5. However, the price rises gradually, indicating that the bulls are building momentum.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This slight increase has left traders wondering if the bearish trend is over and whether things might start getting better for Uniswap (UNI).<\/span><\/p>\n<h2>Signs of Bullish Sentiment As UNI Surges<\/h2>\n<p><span style=\"font-weight: 400\">Notably, UNI is up today by 3.27% at a high of $5.12 within the last 24-hour trading session.\u00a0<\/span><span style=\"font-weight: 400\">The 24-hour trading volume is also up by over 97.72% at $68 million, signifying that the UNI market is experiencing high activity. This data shows that the bulls build strong momentum with positive market sentiment.<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-price-blasts-above-28000-following-4-9-april-cpi-report\/\">Bitcoin Price Blasts Above $28,000 Following 4.9% April CPI Report<\/a><\/p>\n<p><span style=\"font-weight: 400\">Moreover, the token still holds the 22nd position on the <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/uniswap\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400\"> ranking with a market cap of $2.9 billion. <\/span><span style=\"font-weight: 400\">According to <\/span><a href=\"https:\/\/cfgi.io\/uniswap-fear-greed-index\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">CFGI.io<\/span><\/a><span style=\"font-weight: 400\">, the market sentiment towards Uniswap (UNI) is bullish.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The indicator confirms the bullish sentiment with a 61 reading, meaning investors are greedy. This further shows that investors are optimistic about the future potential, and the recent increase in price may be sustainable.<\/span><\/p>\n<h2>UNI Technical Analysis<\/h2>\n<p><span style=\"font-weight: 400\">Even with the increasing price and trading volume, the technical indicators for UNI remained contradictory, with some pointing towards a potential bear market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">UNI is currently trading below its 50-day &amp; 200-day <\/span><span style=\"font-weight: 400\">Simple Moving Averages<\/span><span style=\"font-weight: 400\"> (SMAs) and has formed a Death Cross, a bearish sign. <\/span><span style=\"font-weight: 400\">The Death Cross contributed to the price drop as it caused traders and investors to sell their holdings or take short positions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The SMA indicator suggests that both the long-term and short-term trend is bearish. But, the price might reverse if the bulls hold their long positions. <\/span><span style=\"font-weight: 400\">The Relative Strength Index<\/span><span style=\"font-weight: 400\"> (RSI), with a reading of 40.20, suggests that the asset is not in the overbought or oversold regions but in a neutral range.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This indicates that there&#8217;s no significant buying or selling pressure and UNI might experience some level of consolidation or a positive price change.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-funding-rates-bitmex-deep-red-why-bullish\/\">Bitcoin Funding Rates On BitMEX Turn Deep Red, Here\u2019s Why This Is Bullish<\/a><\/div>\n<p><span style=\"font-weight: 400\">The <\/span><span style=\"font-weight: 400\">MACD indicator<\/span><span style=\"font-weight: 400\"> suggests a bearish trend, with the MACD currently below the signal line. The histogram also confirms the bearish momentum as it is trading below zero.<\/span><\/p>\n<p><span style=\"font-weight: 400\">UNI is trading at $5.14 at the time of writing. The bears are trying to break through the first support level of $4.746, a level several times.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, if the bulls build strong momentum and break above the significant resistance level of $5.731, it might trigger a bullish trend. The next support and resistance level will be $3.358 and $7.651. <\/span><span style=\"font-weight: 400\">Uniswap&#8217;s price can also lose most of its gains if the bears break the support levels successfully.\u00a0<\/span><\/p>\n<figure id=\"attachment_531241\" aria-describedby=\"caption-attachment-531241\" style=\"width: 860px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-531241 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/UNIUSDT_2023-05-11_17-09-29.png?resize=860%2C471\" alt=\"Uniswap (UNI) Surges After A Bumpy Ride, Is Bearish Run Over?\" width=\"860\" height=\"471\"><figcaption id=\"caption-attachment-531241\" class=\"wp-caption-text\">UNI price grows l UNIUSDT on <a href=\"https:\/\/www.tradingview.com\/x\/pXOxFhta\/\" rel=\"nofollow\">Tradingview.com<\/a><\/figcaption><\/figure>\n<p>Featured image from Pixabay and chart from Tradingview<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Uniswap (UNI) has been experiencing downward movement due to general market sentiment.\u00a0The downtrend started on April 19, dropping from $6 to $5. However, the price rises gradually, indicating that the bulls are building momentum. This slight increase has left traders wondering if the bearish trend is over and whether things might start getting better for Uniswap (UNI). Signs of Bullish Sentiment As UNI Surges Notably, UNI is up today by 3.27% at a high of $5.12 within the last 24-hour trading session.\u00a0The 24-hour trading volume is also up by over 97.72% at $68 million, signifying that the UNI market is experiencing high activity. This data shows that the bulls build strong momentum with positive market sentiment. Related Reading: Bitcoin Price Blasts Above $28,000 Following 4.9% April CPI Report Moreover, the token still holds the 22nd position on the CoinMarketCap ranking with a market cap of $2.9 billion. According to CFGI.io, the market sentiment towards Uniswap (UNI) is bullish.\u00a0 The indicator confirms the bullish sentiment with a 61 reading, meaning investors are greedy. This further shows that investors are optimistic about the future potential, and the recent increase in price may be sustainable. UNI Technical Analysis Even with the increasing price and trading volume, the technical indicators for UNI remained contradictory, with some pointing towards a potential bear market. UNI is currently trading below its 50-day &amp; 200-day Simple Moving Averages (SMAs) and has formed a Death Cross, a bearish sign. The Death Cross contributed to the price drop as it caused traders and investors to sell their holdings or take short positions.\u00a0 The SMA indicator suggests that both the long-term and short-term trend is bearish. But, the price might reverse if the bulls hold their long positions. The Relative Strength Index (RSI), with a reading of 40.20, suggests that the asset is not in the overbought or oversold regions but in a neutral range.\u00a0 This indicates that there&#8217;s no significant buying or selling pressure and UNI might experience some level of consolidation or a positive price change. Related Reading: Bitcoin Funding Rates On BitMEX Turn Deep Red, Here\u2019s Why This Is Bullish The MACD indicator suggests a bearish trend, with the MACD currently below the signal line. The histogram also confirms the bearish momentum as it is trading below zero. UNI is trading at $5.14 at the time of writing. The bears are trying to break through the first support level of $4.746, a level several times. However, if the bulls build strong momentum and break above the significant resistance level of $5.731, it might trigger a bullish trend. The next support and resistance level will be $3.358 and $7.651. Uniswap&#8217;s price can also lose most of its gains if the bears break the support levels successfully.\u00a0 Featured image from Pixabay and chart from Tradingview<\/p>\n","protected":false},"author":584,"featured_media":531239,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83446],"tags":[1157,6664,85676,80532,82852],"class_list":["post-531237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uniswap","tag-bulls","tag-crypto","tag-sma","tag-uniswap","tag-uniusdt"],"acf":[],"yoast_head":"\n<title>Uniswap (UNI) Surges After A Bumpy Ride, Is Bearish Run Over?<\/title>\n<meta name=\"description\" content=\"Uniswap (UNI) has been experiencing downward movement due to general market sentiment.\u00a0The downtrend started on April 19, dropping from $6 to $5. 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Currently, he writes about various asset classes, including Crypto and Stocks. Eli has been writing crypto oriented content for almost 6 years now and he is a hard core believer in Blockchain and is confident that it can reform the traditional financial system. He also thinks Bitcoin will become universal currency in the near future. You can follow Eli on Twitter: @EliDambel\",\"sameAs\":[\"https:\/\/x.com\/EliDambel\"],\"url\":\"https:\/\/wncen.com\/author\/elidambell\/\"}]}<\/script>\n","yoast_head_json":{"title":"Uniswap (UNI) Surges After A Bumpy Ride, Is Bearish Run Over?","description":"Uniswap (UNI) has been experiencing downward movement due to general market sentiment.\u00a0The downtrend started on April 19, dropping from $6 to $5. 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