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FXStreet: Uniswap (UNI) bullish reversal momentum strengthens
Gate News bot message, FXStreet analysts indicate that as of Tuesday's press time, Uniswap (UNI) has risen over 4%, up 3.70% from the previous day. The week started strong, with UNI showing strong momentum reversing from the key level of $7000.
The price of decentralized finance (DeFi) tokens has broken through the resistance level of $7.697, which peaked on May 29. If the closing price surpasses this level, the UNI price may rise to $8.747, a key level formed on February 7.
The RSI line is at 59, showing an early reversal before reaching the midpoint, reflecting potential bullish resilience. As it rises further, the MACD indicator and its signal line show a bearish crossover while a green histogram appears, indicating a revival of buying pressure.
However, if the closing price fails to break through $7697, it may trigger a consolidation, with the lower limit at $6888, and multiple peaks may occur in May.
(Source: FXStreet)