Uniswap’s UNI Sets New ATH At $45, Why It Could Extend Gains

 

Uniswap’s UNI gained momentum and traded to a new all-time high near $45.00 against the US Dollar. The price is likely to continue higher above $45.50 and $46.00 in the near term.

  • UNI started a fresh increase after forming a base above the $40.00 level against the US dollar.
  • The price is trading nicely above $42.00 and the 100 simple moving average (4-hours).
  • There was a break above a major contracting triangle with resistance near $40.00 on the 4-hours chart of the UNI/USD pair (data source from Kraken).
  • The pair is likely to continue higher if it clears the $45.00 and $45.50 resistance levels in the near term.

Uniswap’s UNI Gains Traction

After forming a support base above $40.00, UNI started a fresh increase. The last swing low was near $39.30 before the bulls pushed the price above the $42.00 resistance.

There was a break above a major contracting triangle with resistance near $40.00 on the 4-hours chart of the UNI/USD pair. The pair broke the $43.00 and $44.00…


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