- 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 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.