UNI price has started a decent rally above the resistance at $10.00. Uniswap is showing positive signs and could see more gains above the resistance at $11.75.

• UNI has started a up-to-date rally above the $10.00 resistance zone.
• The price is holding above $11.00 and the 100-hour plain moving average.
• On the hourly chart, the UNI/USD pair broke out above the converging bearish trend line with resistance near $9.50 (data source Kraken).
• The pair may correct gains, but bulls could see more gains above $11.75 in the near future.

UNI Price Maintains Profits

After creating a base above the $8.80 level, Uniswap began a up-to-date rally, just like Bitcoin and Ethereum. UNI price gained momentum and moved above the $9.20 and $9.50 resistance levels.

On the hourly chart, the UNI/USD pair broke out above the converging bearish trend line with resistance near $9.50. The bulls even pushed the price above the $10.50 and $11.20 resistance levels. Finally, bears emerged near the $11.75 zone.

The high has formed near $11.78 and the price is currently consolidating gains near the 23.6% Fib retracement level, an upward move from a low of $8.70 to a high of $11.78.

UNI is currently trading above $11.00 and the 100-hour plain moving average. Immediate resistance is near the $11.50 level. The next key resistance is near the $11.75 level. A close above the $11.75 level could open the door to further gains in the near future. The next key resistance could be near $12.20, above which bulls will likely face a test of the $12.50 level. Any further gains could push UNI towards $13.50.

Are drops supported on Uniswap?

If the UNI price does not rise above $11.50 or $11.75, it could start a downward correction. The first major support is near the $11.05 level.

The next major support is located near the $10.25 level or the 50% Fib retracement level in an upward move from a low of $8.70 to a high of $11.78. A downside break below the support at $10.25 could open the door for a push towards $8.80.

Technical indicators

Hourly MACD – MACD for UNI/USD is losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for UNI/USD is trading near the 50 level.

Major support levels – $11.05, $10.50 and $10.25.

Major resistance levels – $11.50, $11.75 and $12.20.