Uniswap price prediction: UNI/USD stuck at $30 as bullish momentum wanes
4 min readTL;DR Breakdown
- Uniswap price prediction turns confusing as price trades sideways.
- The zig-zag price action limits movements within $30.85 to $28.31.
- Bullish bias emerging as the Bollinger Bands shrink before the weekend.
The tight range of UNI/USD is confusing both the sellers and the buyers alike. The UNI/USD pair oscillates between the $30.39 to $28.14 range making it difficult to discern a direction. However, the shrinking Bollinger Bands hold a ray of hope for the bulls who see it as a mark of upcoming breakout.
The $30.60 is emerging as a crucial resistance zone as it coincides with the 23.6 percent Fibonacci retracement of the current bull rally. Additionally, the bears are trying best to push the pair below the $28.05 region to accelerate the selling spree. If the pair slips beneath $30 on a closing basis, the pair may well slide towards the $27.5 support region.
For now, the price action remains neutral and within the Bollinger Bands with an upward bias. The technical indicators are also neutral on the hourly timeframe. However, the daily charts have a clear upward bias with a solid buying momentum.
Unisawp price movement in the last 24 hours: Slowly grinding upwards to $30.65
As per Unisawp price prediction studies, the pair still holds an upward bias. The rising price channel is sloping upwards. There is also the possibility of a symmetrical triangle emerging on the charts over the weekend. However, thin liquidity on the weekend can disrupt the triangle formation. The price has been repeatedly rejected from $31 resistance, which can pose a danger to the hourly bullish rally.
A close above the $30.65 region would certainly embolden bulls to buy more. The bullish moment will further gain traction if the volumes support the upward trajectory. In the last couple of days, the tendency of Uniswap price to oscillate between upper and lower Bollinger Bands reflects a consolidation phase.
The past quarter saw bullish Uniswap price predictions turn true as the price surged euphorically. The UNI/USD pair has gained by almost 850 percent in the past three months alone. The sideways action has slowly achieved higher price levels beyond $30 without any euphoric move. The price action mimics the mature assets who gyrate towards higher levels, albeit in a poised stance.
UNI/USD 4-hour chart: Zig-zag price action stalls higher moves
The sideways trading can be pretty frustrating for the buyers and sellers alike. There is no clear sense of direction on the hourly UNI/USD charts. As per Uniswap price prediction, the real March price action is repeating so far in April. The trend may continue if the pair does not muster massive volume or liquidity in the coming days. The resistance at $30.10 is holding the pair back from gaining traction above the Bollinger Bands.
The 100-day simple moving average line at 26 and is barely below the current range. The 50-day exponential moving average is another solace for the bulls, which is trading at 28. Both the trendlines can give wings to the pair, but the requisite volumes are missing. Uniswap price prediction further elaborates that the pair is likely to consolidate within the range until the broader crypto market turns euphoric.
The rangebound movement has also turned technical indicators neutral. The RSI at 50 shows a typical mid-level reading bereft of any bias. The MACD is tightly wound with no crossover within sight. Any strong winds underneath the pair will take it to $30 resistance amid a bullish Uniswap price prediction. Such a move would require massive liquidity, and weekends are usually muted in extreme price actions.
Uniswap price prediction conclusion: Strong consolidation limits upside for now
Currently, the Uniswap price prediction hints at a prolonger consolidation. In the recent past, the pair has seen the price consolidate to maintain the bull cycle gains. The long positions are not being closed, signalling that the bulls see an upside in the coming days. The polarising picture of the various technical indicators are complicating the matters on the hourly charts
The medium-term Uniswap price prediction is certainly rangebound. Any divergence would be visible from miles as technical indicators have a lot of room to turn bullish and run an extended rally. Immediate support and resistance levels are within sight, which shows that the pair can go either way before the weekend is over.
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