UNI rebounds from recent losses, as MKR nears $800.00
Uniswap was back in the green on Monday, as the token rebounded from two days of consecutive declines. The move saw prices climb towards a resistance level of $6.70, which has been in place since late August. Maker was also in the green, climbing by nearly 5% in today’s session.Uniswap was a notable mover on Monday, as the token rebounded following a string of back-to-back declines.
Following a bottom of $6.21 on Sunday, UNI/USD surged to an intraday peak of $6.53 earlier in today’s session. The move saw uniswap move close to a key resistance point of $6.70, which has been in place since August 25.Looking at the chart, UNI is also nearing a ceiling on the 14-day relative strength index , which could prevent prices from gaining further momentum.
As of writing, the index is tracking at 55.81, which is marginally below the aforementioned ceiling of 57.00. An upwards cross between the 10-day moving average and its 25-day counterpart has also occurred, which could be a sign of even more gains to come.
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