- Uniswap price analysis is bullish for today.
- UNI/USD retested the previous low today.
- UNI is rejecting further downside around $22.
Uniswap shows bullish signals on our daily Uniswap price analysis as the market retraced to the upper Bollinger Band and retested the $23.5 support following a bearish weekend. Therefore, we are optimistic for UNI/USD to rally higher over the next 24 hours and spike above another resistance at $26.
Cryptocurrency heat map. Source: Coin360
The overall cryptocurrency market is trading in the bullish region with market leaders BTC and ETH both gaining around 1 percent. Meanwhile, BNB, XRP, and ADA posted gains above 5 percent. We are expecting the general cryptocurrency market to post further gains in the course of the upcoming week.
Uniswap price movement in the last 24 hours: Uniswap retests previous low above $21
According to our Uniswap price analysis, UNI/USD has undergone a mild daily range of $22.16 -$24.28 over the last 24-hours. Therefore suggesting moderately distributed volatility for the last day. Uniswap’s trading volume dropped by 14 percent to a total of $429 million. Coin Market Cap ranks Uniswap at position #12 with a total market capitalization of $14.55 billion.
UNI/USD 4-hour chart: UNI to rally overnight?
On the 4-hour chart, we can see the Uniswap price rejecting further downside as bulls prepare for another rally higher.
UNI/USD 4-hour chart. Source: TradingView
Uniswap price action traded with strong volatility over the past week. After a rally to the $31 mark, UNI/USD could not reach further upside and retraced to $28.5.
From there, a lower high was set around $30, with a strong decline over the following days. UNI/USD lost more than 30 percent from there until support was found at $21. Rejection for further downside was seen over the following days, with UNI moving to the $24.5 mark.
After some consolidation, another spike lower was seen today. The Uniswap price quickly spiked back to the $21.5 mark, setting a slightly higher low. Therefore, as long as a further downside is not seen, we expect UNI/USD to rally higher over the next 24 hours and attempt to reach further highs over the weekend.
Uniswap Price Analysis: Conclusion
Uniswap price analysis is bullish for the next 24 hours as the market retested the previous low and currently prepares to rally higher again. As long as the previous low holds, we expect FIL/USD to move above the $24.5 current high and see further upside over the weekend.
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.