Uniswap Swaps Above $6 in Intraday Trading, Could It Shoot to $7?

• Uniswap indicated a surge above $6 in the past 24 hours.
• Currently, UNI trades at $6.15. 
• The next challenging price level for UNI is $7.

Today, Uniswap (UNI) signaled a slight surge above $6, hitting a high of $6.20, as of this moment. However, the coin had been trading below $7 for the past week after it clocked at this price on October 7.

The upcoming days are very crucial for UNI, as it determines the challenging target for UNI at around $7.

At press time, Uniswap (UNI) exchanged hands at $6.15, with a 1% surge in the past 24 hours and 2.58% down in the past seven days.

In the 4-hour trading chart, UNI imprinted a rising wedge pattern from September 19 to October 7. After this hike, the price fell, specifically on October 13, due to the US inflation rate tapping an 8.2% low.

However, following this intraday low, the coin cruised high. Worth noting, UNI seems to retrace the same rising pattern. If this happens, the coin could register near the $6.7 resistance zone and thereby surge to its $7 price of October 7.

On contrary, if UNI does not surge, it could go down to reach the nearest support zone of $6 and may fall to another support at $5.3.   

Looking at EMA 51 in the one-day trading chart, the intraday green candle has yet to touch the turbulence line, which makes the coin ready for either a possible rise or fall.

On a larger frame, UNI pummeled by 35% since August 14 after it tapped at $9.6. So far, the coin could not bounce back to this price till now. If UNI looks forward to such a bigger hike, it should move through all the possible resistance zones above $6.7.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.