UNI Extends Its Rise And Its Uptrend Is Nowhere Close To Ending

UNI extends its rise and its uptrend doesn’t seem to be ending with the price climbing over 10% and spiking above $20.00 against the US dollar. The new all-time high was formed near $20.78 and the price is now correcting lower as we can see more in our latest altcoin news.

UNI gained pace above the $18.00 region and the $18.00 resistance levels against the US dollar with the price correcting gains from above .
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00 but it is above the 100 simple moving average and a crucial bullish trendline forming with the support at $18.80 on the 4-hour charts of the pair. The pair could correct lower but the bulls could protect the $18.80 and the $18.50 levels.

After the successful close of the $15.00 resistance, UNI extends its rise and outperforms both BTC and ETH with a strong upward move above $16.50. The price cleared the $18.00 resistance and settled well above the 100 simple moving average but the price spiked later on to $20.00 and traded to a new all-time high of $20.78 where it is currently correcting lower and trades below $20.00. There was also a break below the 23.6% fib retracement level from the recent upward move at $16.73 swing low to the $20.78 high while on the downside there’s a chance of hitting the $18.80 level.

There’s also a crucial bullish trend line forming with the support of $18.80 on the 4-hour charts of the UNI/USD pair with the trend line closing the 50% fib retracement level from the upwards move at $16.73 low to $20.78 high. On the upside, the $20 level will act as a strong resistance so if the UNI price settles here, it could go higher to $21.00. In this case, UNI could continue its rise towards $22.00.

If UNI’s price fails to settle above the $20.00 zone, it could start correcting but the first major support is near the $18.80 level and the trend line as well. the downside break below could open the doors for a move to $17.50 support with more losses leading the price to the $15.80 zone. The 4-hour MACD for the pair is losing momentum in the bullish zone while the 4-hour RSI is well above 50.