Uniswap Worth Prediction: UNI flashes a number of promote alerts and tasks a correction in the direction of USD 3

  • Uniswap price has formed a bearish divergence with the RSI on the daily chart.
  • It appears that several sell signals are suggesting that the digital asset is ready for a correction.

Uniswap saw a massive 155% bull rally on November 5th from its low of $ 1.75. It appears that the digital asset is finally going up after a strong rejection of $ 4.48 and several short-term bearish indicators.

Uniswap price could be ready for a withdrawal

On the daily chart, the Uniswap price has seen a significant bearish divergence from the RSI. The digital asset declined from the top of $ 4.48 and fell to a low of $ 3.8 about 48 hours later.

UNI / USD daily chart

Additionally, the MACD crossed bearishly on the 12-hour chart as the 12-EMA and 26-EMA also had a death cross, a strong bearish indicator. This gives credibility to the pessimistic outlook.

Uni price

UNI / USD 12 hour chart

To determine the potential price level for the bears we can use the Fibonacci retracement indicator. It appears that the next price target would be the 0.5 Fib level at $ 3.13, followed by the 0.618 Fib level at $ 2.8.

Uni price

UNI / USD 12 hour chart

On the other hand, a break above the resistance trendline at $ 4.2 on the 12-hour chart would be a notable bullish indicator that could push the uniswap price quickly towards $ 5.2 and, in the longer term, to $ 6.2.

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