TL; DR Breakdown
- Uniswap began the daily price analysis chart with a bullish trend.
- Most technical indicators suggest UNI/USD will spike to $25 before the daily Uniswap price analysis chart closes.
- On the 4-hour chart, Uniswap price is resisting further downside.
Uniswap price analysis: General price overview
Uniswap began the daily price analysis chart with a bullish trend. The bulls dominated the market, causing prices to surge in a cup and handle trend sending the prices to the intraday highs of $24.06. The bears caused a strong resistance at the intraday highs causing the prices to decline in a descending triangle. Buyers created several support points. However, they were broken down by the mighty sellers. The bearish trend went on until the price reached the lowest of the day at $22.4, where the buyers had consolidated their weak strength to curb the bearish trend.
The price of Uniswap is bearish at the moment; sellers formed solid resistance early in the trading hog prices to trade in a bearish trend on the daily chart. As a result, we anticipate UNI/USD to gain steam over the next 24 hours and aim to return to $24.06 resistance.
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.Uniswap Price Analysis: UNI aims to break $26 resistance as bulls build momentum 1
Cryptocurrency heat map. Source: Coin360
The cryptocurrency market is presently trading in a relatively modest manner, according to the heat map. Bitcoin is currently trading in a slight bear trend, with a price variation of -0.46%. Ether (ETH) traded in a vice versa of the most popular asset, recording a slight price increase and currently trading at $3.3 K. The BNB has recorded more than 1 percent price surge. Uniswap, on the other side, trades in an intense bear trend, recording more than a -2 percent price decline.
UNI/USD 4-hour chart: UNI to rally before midnight?
On the 4-hour chart, we can see that the Uniswap price is resisting further downside as bulls anticipate to begin an upward momentum that will see the price surpassing the intraday highs recorded as soon as the daily chart picked in.
Over the past week, Uniswap price action has been extremely volatile. UNI/USD could not go any higher after increasing to $31 and then retreating to slightly above $20.
Most technical indicators suggest a price spike to $25 before the daily Uniswap price analysis chart closes.
Uniswap Price Analysis: Conclusion
The MACD line is below the red signal line on the one-hour price analysis chart and shows possibilities of crossing over the red signal line. If it crosses the red signal line, the coin will have began an upward trend that is not likely to e cut short anytime soon.
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.