Uniswap’s UNI gained momentum and traded to a new all-time high near $45.00 against the US Dollar. The price is likely to continue higher above $45.50 and $46.00 in the near term.
- UNI started a fresh increase after forming a base above the $40.00 level against the US dollar.
- The price is trading nicely above $42.00 and the 100 simple moving average (4-hours).
- There was a break above a major contracting triangle with resistance near $40.00 on the 4-hours chart of the UNI/USD pair (data source from Kraken).
- The pair is likely to continue higher if it clears the $45.00 and $45.50 resistance levels in the near term.
Uniswap’s UNI Gains Traction
After forming a support base above $40.00, UNI started a fresh increase. The last swing low was near $39.30 before the bulls pushed the price above the $42.00 resistance.There was a break above a major contracting triangle with resistance near $40.00 on the 4-hours chart of the UNI/USD pair. The pair broke the $43.00 and $44.00 resistance levels. A new all-time high is formed near $45.05, with a bullish angle, unlike bitcoin and just like ethereum.
Source:On the upside, the price is facing hurdles near $45.00. A close above the $45.00 level could open the doors for a more gains in the near term. The next key resistance could be near $46.50, above which the bulls are likely to aim a test of the $50.00 level.
