The price of Uniswap (UNI) has risen by almost 20% in the past 24 hours, reaching a three-year high. This rapid rise has pushed the UNI price closer to breaking key resistance levels that could lead to larger gains.
Metrics such as the RSI and BBTrend indicate improving momentum, with continued upward movement likely if bullish sentiment persists. However, holding strong support at $14.5 will be crucial to sustain this uptrend and avoid a deeper pullback.
Uni RSI It is still under the overbought zone
The Uniswap RSI rose from 33 two days ago to 67, reflecting a sharp increase in bullish momentum. This rapid rise indicates that the asset has moved from oversold conditions into a more neutral to bullish range, in line with the recent price recovery.
The current RSI level indicates strong buying activity, but is approaching the overbought threshold, where an upward move may encounter resistance if buying momentum slows.
The Relative Strength Index, or Relative Strength Index, measures the speed and magnitude of price changes to assess overbought or oversold conditions. Values below 30 indicate oversold levels, indicating potential buying opportunities, while values above 70 indicate overbought conditions that can lead to price corrections.
If UNI’s RSI can cross the 70 level and maintain itself above this level without an immediate correction, Uniswap price may continue to rise. Historical trends show that when UNI’s RSI remains above 70 for extended periods, it often precedes significant price gains before a pullback occurs, indicating further upside potential in the short term.
Uniswap BP Trend Now negative
UNI BBTrend rebounded to -0.82, up from -2.47 a few hours ago, indicating an improvement in price momentum. This shift indicates that the downward pressure seen previously is easing, indicating a potential stabilization or even a reversal towards bullish conditions.
Although BBT’s trend remains in negative territory, the upward movement reflects growing support and a potential return of buying interest.
BBTrend, or Bollinger Band Trend, measures the strength and direction of price movements based on Bollinger Bands. Positive values indicate bullish momentum, while negative values indicate bearish conditions. Uniswap BBTrend was positive as of November 24, peaking at 22.6 on December 9, before turning negative between December 11 and 12.
The recent rebound from -2.47 to -0.82 indicates that selling momentum is weakening. If BBTrend turns positive again, UNI price could see a further rise.
UNI Price Prediction: Can we return to $25 in 3 years?
UNI price is currently holding a strong support level around $14.5, which can serve as a key area to stabilize the price in case of a downtrend. If this support fails, the price could fall further, potentially testing $13.5 as the next important level.
These support areas are essential to prevent a deeper correction and maintain market confidence during periods of selling pressure.
On the other hand, if the current uptrend continues, UNI price may soon test the resistance at $19.47, with a possible rise to $20. A break of these levels would mark the highest price for Uniswap in three years, indicating strong bullish momentum.
A sustained rally towards $25 would mark the highest price since November 11, 2021, highlighting the potential for a return to long-term bullish territory if the uptrend strengthens further.
Disclaimer
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