UNI/USD has continued its upward move. The altcoin’s price is making a series of higher highs and higher lows. For the past 48 hours, UNI rallied to a higher high of $43.91 but was resisted.

The altcoin will make a higher low before resuming the uptrend. For instance, on April 15, buyers pushed Uniswap to the high of $39.51 and were resisted. UNI price retraced to $30 support and resumed the uptrend. 

This has been the market scenario since the inception of the uptrend. Today, the market is declining to the support level at $37.50. At that support level, the uptrend will resume reaching the previous highs. However, if price breaks beyond $37.50, it may result in a deeper correction. Perhaps there may be a trend change. The market has fallen to the low of $40.61 at the time of writing.

Uniswap indicator reading

Technical indicators: Major Resistance Levels – $50.00 and $52.00Major Support Levels – $22.00 and $20.00What is the next direction for Uniswap? Uniswap (UNI) is in a bullish trend but presently retracing for further upside momentum. Meanwhile, in the uptrend of April 29, a retraced candle body tested the 78.6% retracement level. This implies that the market will rise to level 1.618 Fibonacci extension or the high of $47.88. At the 1.272 Fibonacci extension, UNI will reverse to 78.6% Fibonacci retracement level where it originated.

Technical indicators:  

Major Resistance Levels – $50.00 and $52.00

Major Support Levels – $22.00 and $20.00

What is the next direction for Uniswap? 

Uniswap (UNI) is in a bullish trend but presently retracing for further upside momentum. Meanwhile, in the uptrend of April 29, a retraced candle body tested the 78.6% retracement level. This implies that the market will rise to level 1.618 Fibonacci extension or the high of $47.88. At the 1.272 Fibonacci extension, UNI will reverse to 78.6% Fibonacci retracement level where it originated.