Uniswap (UNI) price has surged nearly 20% in the last 24 hours, reaching its highest levels in three years. This rapid rally has pushed UNI price closer to breaking key resistance levels that could lead to even greater gains.
Metrics such as RSI and BBTrend suggest improving momentum, with the potential for continued upward movement if bullish sentiment holds. However, maintaining strong support at $14.5 will be crucial to sustaining this uptrend and avoiding a deeper pullback.
UNI RSI Is Still Below the Overbought Zone
Uniswap RSI has surged 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, aligning with its recent price recovery.
The current RSI level suggests strong buying activity, but it is nearing the overbought threshold, where further upward movement could face resistance if buying momentum slows.
RSI, or Relative Strength Index, measures the speed and magnitude of price changes to assess overbought or oversold conditions. Values below 30 indicate oversold levels, signaling potential buying opportunities, while values above 70 suggest overbought conditions that can lead to price corrections.
If UNI’s RSI can break past 70 and sustain itself above this level without an immediate correction, Uniswap price could continue rising. Historical trends show that when UNI’s RSI remained above 70 for extended periods, it often preceded significant price gains before a pullback occurred, suggesting further upside potential in the short term.
Uniswap BBTrend Is Now Negative
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Author: Tiago Amaral
