Uniswap’s UNI Price Could Soon Rally Above $6

Uniswap’s UNI Price Could Soon Rally Above $6 – Here’s Why

Jul 17, 2023 06:00 am Cryptocurrency 197

Uniswap’s UNI started a decent increase above $5.35 against the US Dollar. The price is likely to continue higher above $6.00 and $6.20 in the near term.

UNI started a fresh increase after forming a base above the $4.75 level against the US dollar.

The price is trading above $5.65 and the 100 simple moving average (4 hours).

There was a break above a major contracting triangle with resistance near $5.35 on the 4-hour chart of the UNI/USD pair (data source from Kraken).

The pair is likely to continue higher if it clears the $6.00 and $6.20 resistance levels in the near term.

Uniswap’s UNI Regains Traction

After forming a support base above $5.00, UNI started a fresh increase. The bulls were able to push Uniswap’s price above the $5.25 and $5.30 resistance levels, similar to Bitcoin and Ethereum.

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