- Today’s Uniswap price analysis is bullish
- UNI/USD traded in a range of $28.28 – $28.98, indicating a mild volatility
- UNI/USD to break higher later today and target the $30 mark next.
Uniswap Price Analysis: General price overview
Today’s Uniswap price analysis is bullish as the market started to rally yesterday after consolidating above the $27 earlier this week. Since UNI/USD has approached the previous swing high earlier today, we will likely see a breakout in the next 24 hours, with the next upside target focused on the $30 mark.
The general cryptocurrency market performed bullishly over the last 24 hours. Market leaders Bitcoin and Ethereum lost by 0.98 and 0.81, respectively. Meanwhile, Cardano (ADA) is among the best performers, with a gain of almost 6 percent. Other gainers include Dogecoin, Solana, and Polkadot.
Uniswap price movement in the last 24 hours
UNI/USD traded in a range of $28.28 – $28.98, indicating a mild amount of volatility over the last 24 hours. Trading volume witnessed an 11.2 percent plummet and totaled $ 419 million. Meanwhile, the total market capitalization trades around $16.8 billion after undergoing a 3.06 percent increase in the last 24 hours.
UNI/USD 4-hour chart: UNI looks to break $30 swing high?
On the 4-hour chart, we can see the Uniswap price action approaching the previous high as bulls want to set another higher high.
Uniswap price action has traded within strong bullish momentum over the last month. After setting a new swing low around the $18 mark, UNI/USD rallied by more than 70 percent to the $30.4 mark.
From the $30 mark, more than 15 percent retracement was seen earlier this week as bears dropped to retest the 20-day EMA at $26.60. A higher low was set there, and the market began to consolidate for more than 24 hours.
This price action development resulted in a rally higher yesterday, with the $30.00 previous high currently tested. Therefore, bulls are likely to set new higher high later today and target the next major price milestone at the $30 mark in the course of the weekend.
Uniswap Price Analysis: Conclusion
Uniswap price analysis is bullish as a strong rally was seen yesterday, and the market price currently trades just below the $30.00 previous high. Therefore, we expect UNI/USD to break higher later today and target the $30 mark next.