Uniswap

Bitcoin

Momentum

Resistance

UNI price is moving higher from the $5.65 support. Uniswap is up 5% and it seems like the bulls could aim a fresh surge toward the $8.00 zone. 
<ul> 
 <li>UNI started a fresh increase above the $6.00 and $6.20 resistance levels.</li> 
 <li>The price is trading above $6.50 and the 100 simple moving average (4 hours).</li> 
 <li>There was a break above a key bearish trend line with resistance near $6.60 on the 4-hour chart of the UNI/USD pair (data source from Kraken).</li> 
 <li>The pair is showing bullish signs and might rally if it clears the $7.25 resistance.</li> 
</ul> 
<h2 id="uni-price-aims-higher">UNI Price Aims Higher</h2> 
After forming a support base above $5.65, UNI started a fresh increase. The bulls were able to push Uniswap’s price above the $6.00 and $6.20 resistance levels, outperforming <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-43250/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-rangebound-2440/" target="_blank" rel="noopener ">Ethereum</a>. 
There was a break above a key bearish trend line with resistance near $6.60 on the 4-hour chart of the UNI/USD pair. The pair even cleared the $6.75 resistance level. It is now approaching the 50% Fib retracement level of the downward move from the $8.24 swing high to the $5.67 low. 
UNI is now trading above $6.50 and the 100 simple moving average (4 hours). Immediate resistance on the upside is near the $6.95 level. The next key resistance is near the $7.250 level. It is close to the 61.8% Fib retracement level of the downward move from the $8.24 swing high to the $5.67 low. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/01/Uniswap-UNI.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-569733" src="https://www.newsbtc.com/wp-content/uploads/2024/01/Uniswap-UNI.png?resize=1024%2C461" alt="UNI Price Prediction" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/Uniswap-UNI.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/01/Uniswap-UNI.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/Uniswap-UNI.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/Uniswap-UNI.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/Uniswap-UNI.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/01/Uniswap-UNI.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/Uniswap-UNI.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/UNIUSD/" target="_blank" rel="noopener nofollow">UNIUSD on TradingView.com</a> 
A close above the $7.25 level could open the doors for more gains in the near term. The next key resistance could be near $7.65, above which the bulls are likely to aim a test of the $8.00 level. Any more gains might send UNI toward $8.25. 
<h2 id="dips-supported-in-uniswap">Dips Supported in Uniswap?</h2> 
If UNI price fails to climb above $6.95 or $7.25, it could correct further lower. The first major support is near the $6.60 level or the 100 simple moving average (4 hours). 
The next major support is near the $6.25 level. A downside break below the $6.25 support might open the doors for a push toward $6.00. 
Technical Indicators 
4-Hours MACD – The MACD for UNI/USD is gaining momentum in the bullish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for UNI/USD is well above the 50 level. 
Major Support Levels – $6.60, $6.25 and $6.00. 
Major Resistance Levels – $6.95, $7.25 and $8.00.

UNI Price Prediction – Uniswap Momentum Reignites, 15% Lift-off Possible

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