- Today’s Uniswap price analysis is bearish
- UNI/USD traded within a daily range of $27.5 – $28.5.
- UNI/USD is completing the handle of a cup with a handle pattern, with the cup’s bottom at $26.30
Today’s Uniswap price analysis is bearish after the coin underwent a 2.34 percent retracement to the $28.126 support level. Uniswap price action got rejected at $29.724 as the bulls attempted to breach the $30 barrier. We are expecting the altcoin to reverse towards the 20-day exponential moving average at $26.50. A zone where the bulls will be able to consolidate sufficient strength and price stability to breach through take-profit sellers near $30.
Uniswap price movement in the last 24 -hours: Low volatility?
According to our Uniswap price analysis, UNI/USD traded within a daily range of $27.5 – $28.5. Such a tight range suggesting low volatility across the daily chart. Uniswap’s trading volume faced a 9.40 percent plummet to a total of $400 million. The total market capitalization stands at $17.7 billion after a 1.35 percent drop in the last 24 hours.
4-hour Uniswap Price Analysis: Bulls aim for $30
On the 4-hour Uniswap price analysis, UNI/USD is completing the handle of a cup with handle pattern, with the cup’s bottom at $26.30 and the handle already aimed towards the $27 region. The bulls seem persistent to set a new high on the 24-hour chart, but their consolidation phase faces massive seller resistance around $28 and $29.
UNI/USD did not have a good start into the week following a 12 percent retracement from $30 to the $26 mark.
The bears are still acting against the upper support levels and persistently want the price to the 20-day exponential moving average ($26.50). Nonetheless, Uniswap price action hit a higher low at the 20-day EMA, and the altcoin’s market has been consolidating above it for the past 24-hours.
Meanwhile, the bears have been fighting away any movements above $30. Uniswap might need more support from the broader market to sustain its price above $30 if only the bulls want to reach $40 soon.
Uniswap price analysis conclusion
Uniswap price analysis is bearish as a strong downswing was seen yesterday, and the market price currently trades just near the $27.80 previous high. Therefore, we expect UNI/USD to retrace lower later today and target the $26 mark next.
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