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Uniswap Technical Analysis: UNI Bulls Retesting a Critical Resistance Level

cryptoknowmics.com 23 June 2022 19:19, UTC
Reading time: ~2 m

Uniswap is up 76 percent from 2022 lows. A high volume close above $5.8 may propel UNI to March 2022 highs in a bullish breakout formation.

Past Performance of Uniswap

Uniswap crypto prices are maintaining an upward trajectory when writing, retesting a critical resistance level. From the UNI token performance in the daily chart, buyers are in control, unwinding recent losses as prices print welcomed higher highs. At spot rates, Uniswap is up 17 percent against the USDT, BTC, and ETH in the past 24 hours.

Uniswap Technical Analysis

 Uniswap token prices are up an impressive 76 percent after sinking to 2022 lows at $3.2. The coin is bottoming up and is currently retesting a critical liquidation level at $5.8. As bull bars ride the upper BB signaling growing momentum, traders may load the dips in anticipation of a refreshing close above this line. Even still, this week's expansion is with comparatively low trading volumes questioning the strength of Uniswap buyers. Accordingly, bulls may wait for a clean break above $5.8 before loading with targets March 2022 lows at $8.

What to Expect from UNI?

Per the UNI technical analysis in the daily chart, buyers are in control. However, this preview will hold, and Uniswap prices will expand further if there is a comprehensive close above the immediate liquidation level at $5.8.

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