Uniswap (UNI) Price Gains 15%, with Bullish Indicators in Play

Uniswap (UNI) price has surged roughly 15% in the last 24 hours, fueled by strong bullish momentum. The RSI has climbed to 67, indicating UNI is approaching overbought territory but still has room for further gains before a potential correction.

If the uptrend continues, UNI could test resistance at $13.3 and $14.8, with a potential push to $17, but a reversal could see it retest supports at $12 or drop to $8.59.

UNI RSI Isn’t Overbought Yet

Uniswap RSI surged from 50 to 67 in just one day, reflecting a strong increase in bullish momentum. The RSI, or Relative Strength Index, measures the speed and magnitude of price movements on a scale of 0 to 100.

Values above 70 indicate overbought conditions and a potential for a correction, while values below 30 suggest oversold conditions and possible recovery. The current RSI of 67 suggests UNI is approaching overbought territory but still has room for further gains.

Given the recent momentum, UNI price could continue climbing until the RSI surpasses 70, signaling stronger bullish sentiment in the short term.

Historically, coins often experience corrections after entering overbought zones. Still, with the RSI not yet there, the surge may have more room to run, as it happened at the beginning of November.

Uniswap BBTrend Is Very Positive

UNI BBTrend is currently at 16.5, remaining positive since November 24 after briefly turning negative between November 23 and November 24. The BBTrend, or Bollinger Bands Trend, measures the strength and direction of price movements relative to the Bollinger Bands.

Positive values indicate upward momentum, while negative values reflect downward pressure. The positive BBTrend signals that Uniswap is currently in a bullish phase.

Although UNI’s BBTrend is still high at 16.5, it has declined slightly from 18 yesterday, suggesting a slight weakening of bullish momentum.

This drop indicates that while the uptrend is intact, the strength of the current rally may not be as strong as before. If the BBTrend continues to decline, it could signal an upcoming consolidation or correction in UNI’s price.

UNI Price Prediction: Can It Reach $17 In November?

If Uniswap price strong uptrend continues, the price is likely to test resistances at $13.3 and $14.8 in the near term. Breaking through these levels could push UNI price as high as $17, marking its highest price since March and representing a potential 36% gain.

However, if the uptrend reverses, UNI price could face a retest of key supports at $12 and $10.4. Should these levels fail to hold, the price might drop further to $8.59, marking a substantial 31% correction.