Uniswap

The bearish dominance of <a href="https://www.blockhead.co/tag/uniswap/" rel="noopener noreferrer nofollow">UNI</a> sellers at the $8 resistance level was quickly extinguished by buyers with a 9% pump on the four-hour timeframe taking UNI above the key resistance.Earlier, UNI bulls had rallied strongly from the $7.1 support level but were curtailed at the $8 resistance. However, the sustained buying pressure reversed the retracement at the resistance level with buyers able to claim the $8 price zone as a new support level.<h3 id="uni-buyers-push-to-reach-10-price-level">UNI buyers push to reach $10 price level</h3>The flipping of the $8 price level to support by buyers has provided a base for extending the bullish momentum to the $10 price level.A quick re-test of the new support level offers a 25% profit target if price gets to the $10 price zone. This would serve as a good entry-level for buyers to ride UNI’s price wave with its earlier price action showing the tendency for the coin to make a series of higher lows, as price trends upwards.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/8a20c46b54344aa2b41ce688ec8c014c.png" />UNI/USDT on TradingView (4H Timeframe)Furthermore, the Relative Strength Index (<a href="https://www.blockhead.co/2022/04/15/blocksmith-explains-relative-strength-index-rsi/" rel="noopener noreferrer nofollow">RSI</a>) maintained an upward trendline channel to reveal a strong bullish momentum. Similarly, the MACD indicator was also bullish with the Moving Average staying above the signal line.According to <a href="https://coinmarketcap.com/currencies/uniswap/?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">Coinmarketcap</a>, Uniswap’s daily trading volume spiked by 93% over the past day and this was reflected in a 10% increase on its overall market cap.This combination of bullish factors has UNI firmly positioned to hit higher prices in the coming weeks with dips an opportunity for buyers to add long positions.<h3 id="technical-levels-to-consider-for-long-positions">Technical levels to consider for long positions</h3><ul><li>Support Levels: $7.1 and $8</li><li>Resistance Levels: $9 and $9.9</li></ul>Subscribe to Blockhead&#39;s daily newsletter for <a href="https://www.blockhead.co/" rel="noopener noreferrer nofollow">FREE </a>and stay in the loop on digital assets. Follow our <a href="https://twitter.com/blockhead_co" rel="noopener noreferrer nofollow">X</a> and <a href="https://t.me/blockhead_co" rel="noopener noreferrer nofollow">Telegram </a>for our latest updates too!

Uniswap’s (UNI) 9% Pump Breaks Bearish Resistance at $8 Price Level

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