Uniswap ($UNI ) Price Analysis
Uniswap price has been surging exponentially above its Fib channels and is currently holding momentum around the $11 mark. Both side traders are now aiming for a clear trend in the coming hours. As of writing, UNI price trades at $11.2, surging over 3.8% from yesterday’s rate.
Bears are currently defending the $12 level strongly; however, buyers aim to break above by increasing the pressure. A surge above $12 might strengthen long positions, resulting in a surge toward the $17.2 level.
However, a rejection from $12 would suggest that bears are trying to establish this level as a resistance level. To initiate a downward rally, bears must break below the EMA20 trend line. This might lead the price toward $8.2.
