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Uniswap Price Analysis: $37 target remains closer home for Uniswap bulls

XTZ price analysis

TL;DR Breakdown

  • Uniswap price analysis is bullish for today
  • Best gainers include Axis Infinity and Cardano, which gained 60 and 20 percent respectively.
  • Buyers want to thrust against the price hurdle on their way to $37 and $44. 
  • As of this writing, Uniswap is trading at $30.110 against the US dollar. 

Uniswap Price Analysis: General price overview

Uniswap price analysis is bullish for today after sustaining yesterday’s close near $30. The bulls are finding all means to protect the $30 price mark and prevent any downsides from this point. Buyer volumes have also strengthened support at the 200-day simple moving average at $25.81 hence why the coin is performing well above $28 and $29. 

Ideally, the 200-day SMA validates a bullish thesis in the medium-term and a shield against future downsides. 

Overall, cryptocurrencies are performing within bullish momentum. The best gainers include Axis Infinity and Cardano, which have gained over 60 percent and 20 percent, respectively. The majority of the altcoins have outperformed Bitcoin and Ethereum, which have posted gains of 1.24 and 2.0 percent respectively. 

Uniswap price movement in the last 24 hours

UNI/USD trading pair price action in the last 24 hours is tight within a daily range of $28.73 and $30.400. The trading volume for the coin went up by 3.40 percent to a total of $697 million. On the other hand, the market capitalization for Uniswap rose by 1.93 percent in the last 24 hours to $17 billion.

Uniswap 4-hour price analysis

On the 4-hour Uniswap price analysis, the liquidity token price action is consolidating buyer volumes against the $30.10 resistance. The coin has faced rejection multiple times at this resistance, and if the sellers continue to persist, there are chances of a lower correction. 

Meanwhile, buyers want to thrust against the price hurdle on their way to $37 and $44. Generally, the price outlook for Uniswap is bullish. 

The only downside is the existence of lots of break-even sellers trying to salvage their losses from the May bloodbath. 

Regardless, Uniswap buyers must play their cards right and prevent the $30 price from crumbling. A break below this point will attract more sellers and easily suggests that buyers will lose their market traction. 

This situation could worsen thereof and bring the price down to $23.45. As of this writing, Uniswap is trading at $30.110 against the US dollar. 

Uniswap price analysis
Source: TradingView

Uniswap price analysis conclusion 

Uniswap price analysis will remain bullish for the next 24 hours as the bulls struggle to crash the current resistance. If the bulls are successful, we can anticipate a retracement towards $35 and the possibility of hitting the $44 target. 

Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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