- Uniswap price analysis is bullish for today.
- Uniswap opened the daily rice analysis chart in bullish momentum.
- Bulls are reversing the bear trend.
Uniswap opened the daily rice analysis chart in bullish momentum. Buyers outnumbered the sellers in the market, causing the prices to rise upward, forming several bullish trends to the intraday at $26.4. sellers had consolidated strength, causing a firm resistance at the intrada highs. This resistance caused the price of the UNI/USD pair to begin a downfall. The price dropped in a falling wedge to the intraday lows of $25.2.
The overall cryptocurrency market is optimistic, as shown by the heat map. BTC, the most well-known digital currency, has increased by 0.88 percent and is trading at slightly below $48K, whereas the second-largest digital asset has also recorded 1 percent price surge and is currently trading at $3.5K. With the market continuing to strengthen, there are signs that altcoins are gaining ground as well. FTT is the hottest gainer on the cryptocurrency heat map, with more than a 20 percent rise in price. Uniswap is trading in the opposite direction recording a 2 percent price dip.
Uniswap price movement in the last 24 hours: Uniswap sets another lower low at $26.4
UNI/USD traded in a range of $25.46 – $26.54, indicating substantial volatility over the last 24 hours. Trading volume has declined by 6 percent and totals $660 million, while the total market cap trades around $16.52 billion, ranking the coin at number 11 overall.
UNI/USD 4-hour chart: UNI starts to rally
UNI/USD is attempting to rally upwards on the 4-hour Uniswap price analysis after setting a lower low yesterday.
UNI/USD 4-hour chart. Source: TradingView
The Uniswap price has rallied considerably in the last month. UNI/USD has increased by more than 150 percent from the $12.5 support level until resistance was met at around $29.
UNI/USD traded in a range below $29 for several days before declining rapidly on Tuesday. Support was first discovered above $25, but more losses were seen yesterday as Uniswap price fell to $24.5.
The UNI/USD pair plummeted overnight, but the long-term trend remains intact because it has demonstrated resilience in reacting to bad news and swiftly recovering from bearish trends. Today, we expect UNI to rise higher once again, returning above its previous swing high of $29 over.
Uniswap price analysis: Conclusion
The trend line break indicates Uniswap is in upward momentum, and it appears to be gaining strength as the market began to rise earlier today, following another lower low yesterday. As a result, we anticipate UNI/USD to recover more of its losses and retrace towards the previous swing high at $29.
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.