Upward trends in price charts bode well for Uniswap. CoinGecko reports that over the past 30 days, the token’s value has increased by 17.6 percent. The currency appreciated by 6.5% in value throughout the course of the week. As of this writing, UNI is still in an uptrend, and there are indications that the bullish momentum will continue, pushing the price of UNI into or over the $7 barrier mark. UNI’s gains are only one example of the several cryptocurrencies that took advantage of the market turmoil caused by the recent CPI report. Is the market getting carried away with its optimism, or can UNI’s positive momentum continue to the $7 resistance level? Related Reading: Binance Coin Buying Volume Up – Will This Push BNB Up To $275 Level? The Unicorn Spell CryptoQuant reports that the token’s exchange reserve numbers are on the rise. That people are getting ready to sell again is a gloomy sign. During the September 21st UNI rally, the coin was rejected at the $7 price resistance level, providing evidence of this phenomenon. Currently, the momentum indicator is at 0.062. This is barely above the 0 line of neutrality. The RSI indicator currently rests at 52.61 and 50.24 correspondingly, indicating a deceleration. Even though the token’s movement is slowing, its predominant adherence to the XABCD shape may indicate more bullishness. However, the token has met a roadblock in its quest towards the $7 pri...
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