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Uniswap Price Analysis: UNI/USD hot in pursuit to breach the $30 resistance

UNI USD

TL;DR Breakdown

  • Uniswap price analysis is bullish on today’s daily chart 
  • UNI/USD  traded between a tight low-volatility daily range on the 24 hours chart

Uniswap price analysis is bullish on today’s daily chart after scattering the bears around the 20-day exponential moving average ($27.11). Uniswap price action took a gradual increase overnight and aggressively rallied to $29.02 before finding strong rejection around that point. We are expecting the altcoin to maintain an upward trajectory in the course of the day. On the contrary, the bears are working against the clock to defend the $30 price mark and are tirelessly trying to initiate a pullback towards the 20-day EMA. 

The digital currencies market traded bullishly strong in the last 24 hours, with Bitcoin breaking the $50K barrier, Binance Coin hitting $500, and Cardano touching the $2.9 resistance line. Meanwhile, we anticipate that the market will continue rising, and the bulls will keep pushing higher. 

UNI/USD 1-day price chart: Dropping volumes

UNI/USD  traded between a tight low-volatility daily range on the 24 hours chart $28.57 – $29.02. Furthermore, daily total trading volumes decreased by 17 percent to $421,475,412. Meanwhile, the Uniswap market capitalization surged by 1.87 percent to $17.2 billion. 

4-hour Uniswap price analysis: Bulls remain strong to beat $30

On the 4-hour Uniswap price analysis, UNI/USD is trying to break out of $28.50 and cross to the $29 mark. There is high selling pressure at the $30 overhead resistance. Which demands solid momentum and support from the broader market to break. 

Uniswap price action has rallied by more than 120 percent since.  Meanwhile, last week’s rash to the upsides saw the coin set a  higher low near the $29 zone. A slight retracement during the weekend slightly displaced the bulls from the $30 high, and they are desperately trying to break out once more. 

Uniswap Price Analysis: UNI/USD hot in pursuit to breach the $30 resistance 1
Source: Tradingview

Generally, this Uniswap price analysis suggests the bulls are willing to push through and are already consolidating around the press time price at $1.600. The first primary target is to beat the supply zone resistance around this mark and swing higher. Afterward, MATIC/USD could rapidly trend to another support at $1.90. 

Uniswap price analysis conclusion

Today’s Uniswap price analysis is bullish, and an uptrend could be seen in the next 24 hours as the bulls attempt to set new higher lows. The main target is to hit $31 – $35 in the course of the week, and we expect UNI/USD to break the $30 barrier in the next 24 hours.  While waiting for Uniswap’s price to consolidate, read our articles on Decentralized Exchanges, NFT Marketplace and Bitcoin Futures.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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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