Uniswap is rallying against the bearish market trend, displaying signs of strength and resilience. The crypto token’s bullish sentiment is increasing, causing market participants to question whether UNI can maintain its upward momentum and break new ground. Technical indicators show potential for more upward movement as Uniswap approaches the $8.7 resistance level, with the 4-hour RSI suggesting continued momentum and positive movement. Uniswap has successfully broken above the daily 100-day Simple Moving Average, indicating increased buying confidence. If Uniswap can maintain this push, it could result in further price appreciation and the challenge of higher resistance levels. If it fails to maintain this strength, a pullback may occur, with the price falling toward the $6.7 support zone.
Source: Uniswap