Uniswap’s UNI Has Potential To Surge Above $35 And $40

Uniswap’s UNI has potential to surge above the $35 and the $40 price range as it is showing positive signs above the $32 against the US dollar. The price is likely to clear the $$35 resistance and will rally towards $40 likely as we can see more in our latest altcoin news today.

The price is trading nicely above the $32 and the 100 simple moving average with a key bullish trend line forming near the support at $32.50 on the 4-hour charts of the pair which is likely to continue higher if it manages to clear the $35 resistance in the near-term. After the sharp downside correction towards the $27.50 support, UNI started a fresh increase and the last swing low was nearing $29.44 before the bulls were able to push the price above $30K.

It broke the $31 and the $32 resistance levels with a new test of the main $35 resistance. A new high was formed near the .
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13 before a minor decline as UNI dipped below the $33.50 level and a new break below the 50% fib retracements level from the move at $29.44 low to $35.13 high. it is now trading above the $32 and the 100 simple moving average as the price is stable above the 61.8% fib retracement level from the upwards move at $29.44 low to $35.13 high.

What’s more to it, there’s a bullish trend line forming with the support at $32.50 level on the 4-hour charts of the UNI/USD pair while the price started facing hurdles near the $34.00 with the main resistance being near the $35 level. Closing above the $35 level could open the doors for another increase towards the $40K resistance so if UNU drops below this support level, it could correct even lower. The first major support is near the $32.80 and the $32.50 levels as well.

The main support is now forming near the $32.00 zone and the trend line with a downside break below the $32 support opening the doors for another push towards the $27.50 support. More losses will likely lead the price to the $27.50 zone. Uniswap’s UNI has potential to surge higher as the 4-hour MACD for the pair is gaining momentum in the bullish zone and the RSI is well above the 50 levels.