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Uniswap Price Analysis: UNI/USD still holding $26 support; should we expect a rally?

Aave price analysis

TL;DR Breakdown

  • Our 24-hour Uniswap price analysis is bullish
  • Uniswap price analysis showed a daily trading range of $28.08 – $29.33.
  • Uniswap is preparing for a rally in the next 24-hours

Our 24-hour Uniswap price analysis is bullish following a quick market reversal to the $29th price mark. The coin set a higher low on the daily chart and rejected any further downsides at the $28.40 price zone. Therefore, we are expecting Uniswap to breach the $31 resistance level and rally higher into the $35 target. 

Uniswap price analysis
Cryptocurrency heat map. Source: Coin360

The general cryptocurrency market is trending within the green zone on the daily cryptocurrency heatmap by Coin360. Bitcoin went up by 1.50 percent to $52K, Solana gained 32 percent and hit the $190 level, while XRP gained 2.22 percent to reach $1.35. ADA  is the worst performing coin of the day after shedding over 5 percent of its value in the last 24-hours. 

Uniswap price movement in the last 24 hours: Uniswap rallies to $30 before a quick spike lower

Data recorded by the 24-hour chart for our Uniswap price analysis showed a daily trading range of $28.08 – $29.33. Such a tight trading range indicates mildly distributed volatility. The amount of trading volume went up by 28 percent to a sum of $711 million. Uniswap total market value stands at $17 billion. The coin ranks at number #11 among the top 20 altcoins by market capitalization. 

UNI/USD 4-hour chart: UNI ready to break $31?

The 4-hour  Uniswap price analysis chart shows Uniswap price action preparing for a rally that could set a new daily high later on. 

Uniswap Price Analysis: UNI/USD still holding $26 support; should we expect a rally? 1
UNI/USD 4-hour chart. Source: TradingView

Uniswap(UNI) has undergone substantial gains in the last few weeks, following a 120 percent upswing from the $14 swing low to a swing high of $31. The coin found resistance at $31 and retraced below $29, where it is currently struggling to consolidate momentum to recover the losses and rally.

From this point, we are expecting a strong reversal to the $35 mark as the bulls target to set new higher lows in the course of the new month. Last week, Uniswap underwent a rapid rally from the $26 support after last weekend’s drop to $25. The recent developments across Uniswap technicals indicate an upcoming rally over the next 24-hours. 

Uniswap Price Analysis: Conclusion 

Today’s Uniswap price analysis is bullish and shows chances of breaking the $29 resistance and touching the $30 mark. Therefore, we are anticipating a Uniswap rally in the next 24-hours as the coin could finally rally into the $31 region. As we anticipate a positive change in the price of the token, check out some of our articles on Bitcoin Scams, NFTs, and Wrapped Bitcoin

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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