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Uniswap Price Analysis: UNI/USD struggles to overcome $30 price hurdle as bids increase for $35 target

Uniswap price analysis

TL;DR Breakdown

  • Uniswap price analysis started bearishly after retracing a descending triangle
  • Mild daily range which suggested mild volatility between $28 and $29.
  • The next target lies between $35 and $37, which is most likely to be achieved in the coming days.

Uniswap Price Analysis: General price overview

Uniswap price analysis started bearishly after retracing a descending triangle in the early morning session but could not set further lows and consolidated around $28.5. The stay at the bottom was however short-lived and the bulls came in and pushed the price to an intraday high of $29.65. Uniswap is already points below the $30 resistance, which further constraints the coin’s breakout to the next immediate target at $35. 

Overall perfomance of the cryptocurrency market includes a 3.09 percent and 4.71 percent loss for both Bitcoin and Ethereum respectively in the last 24 hours. Solana became the best gainer of the day after recording a 25 percent gain on the 24-hour chart. A price action that saw the scaling solution hit it all-time high at $70. XRP became the worst performer after shedding 9.08 percent of its value. Other altcoins such as ADA and BNB recorded minimal losses of up to 1 percent.

Uniswap price movement in the last 24 hours

According to this Uniswap price analysis, the coin witnessed a mild daily range which suggested mild volatility between $28 and $29. Trading volumes across the Uniswap daily chart posted a 30.4 percent gain which totaled to $568 million. On the other hand, market capitalization shed 3.45 percent to a sum of $17.2 billion. 

Uniswap price analysis on the 4-hour chart

Uniswap price analysis on the 4-hour chart is consolidating in preparation for a retracement later this week. UNI/USD price action has witnessed substantial gain over the past weeks. After a slightly higher low was set around $15,  Uniswap rallied by more than 50 percent to the current high of around $30. 

The altcoin’s  previous swing high near $25 was broken last week, indicating a bullish shift in the overall Uniswap price structure. After some further rally, the $28.50 resistance was quickly broken, with a high set around $29. At the time of writing, Uniswap is trading at $29.35. 

Bulls are attempting to sustain the $29 – $30 level as they prepare to wage more market support and activate a strong breakout above $31. The next target lies between $35 and $37, which is most likely to be achieved in the coming days.

Uniswap price analysis
Source: TradingView

Uniswap price analysis conclusion 

Uniswap price analysis is bullish for today as we can expect to see further upsides in the next 24 hours. The coin is heading for a breakout above the $29 resistance and aims to build support at the $30 pyschological support. 

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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