May 18, 2022

UNI Token Price Analysis: A Long-range Bullish Divergence Confirms The Price Floor, Signaling An Uptrend for UNI Token

2 min read

UniswapUniswap

< img width="300"height="212"src= "https://cdn.coingape.com/wp-content/uploads/2021/06/23170352/uniswap.jpg"class="attachment-medium size-medium wp-post-image"alt="Uniswap" design =" float: right; margin:0 0 10px 10px;"/ >< img width=" 700 "height ="495" src="https://cdn.coingape.com/wp-content/uploads/2021/06/23170352/uniswap.jpg"class= "attachment-full size-full wp-post-image" alt ="Uniswap"design="float: right; margin:0 0 10px 10px;"/ > A current rise in Ethereum deal charges results in an increase in layer-2 volumes for UNISWAP, the most well-known and liquid decentralized crypto exchange. According to information sources from Nomics, an information analytics supplier, UNISWAP V3 generated 80 million USD in volume in Arbitrum compared to 14 million USD on Optimism.

L2beat, a Layer-2 information aggregator program records of Arbitrum representing 60% of the TVL-Total value locked throughout Layer-2 following its mainnet launch in September.

Let’s evaluate the rate charts of the UNIUSDT crypto pair, beginning with a weekly chart overview.

UNISWAP (UNI) Weekly Chart Analysis

The UNIUSDT cost chart had its reasonable share of the all-around crypto price downturn revealed as a trigger from a bearish divergence pattern. Following

the 67% cost depression, the UNIUSDT gradually tries a price healing while trading within a side-ways chart structure.

An earlier climb in the RSI value above level-75 on 09 August hints at the bullish healing and a build-up of rate trajectory above the upper bounds of the bearish divergence resistance.

UNISWAP (UNI) Daily Chart Analysis

Above is a daily chart overview of the UNIUSDT breaking above the upper trend line of a broadening and descending channel that’s formed by countering bearish and bullish divergence signals on 26 Sep and 02 October.

The recent breakout of inside-bar resistance marks a start of greater cost targets for the UNI token as the price threatens to break a 2nd bearish divergence resistance level at $27.99.

UNISWAP (UNI) 4HR Chart Analysis

The UNISWAP UNI token signals a regular bearish divergence on 16 October 12:00, sending out the UNIUSDT into a correction wave of about [10%]

A long-range covert bullish divergence on 18 October 12:00 validates the rate flooring following a bear-trap candlestick pattern.

The bullish divergence pattern formed with the RSI in the oversold location, likewise validates a parabolic upward trajectory on the daily amount of time as the day-to-day RSI reading stays above level-25.

UNISWAP (UNI) Intraday Levels

  • Spot rate: 27.12
  • Mid– Term Trend [H4]: Strong Bullish
  • Volatility: High
  • Support: $24.85 and $22.30
  • Resistance: $27.99

The post UNI Token Price Analysis: A Long-range Bullish Divergence Confirms The Price Floor, Signaling An Uptrend for UNI Token appeared first on Coingape.