- Uniswap price analysis is bullish for today.
- UNI/USD retested the previous low today.
- UNI is rejecting further downside around $18
Today’s price analysis for Uniswap is bullish since the market has retraced and retested the prior low, with a rejection for additional declines. As a result, we anticipate UNI/USD to rebound over the next 24 hours and attempt to recover even more of its losses from earlier this week.
Over the previous 24 hours, the market as a whole has been negative. Bitcoin has dropped 3.86 percent, while Ethereum‘s price has decreased by 7.13 percent. Solana (SOL) is one of the most prominent losers, losing more than 10% of its value.
Uniswap price movement in the last 24 hours: Uniswap retests previous low at $18
UNI/USD is currently trading at $20, with a high of $20.53 and a low of $18.55 during the past 24 hours, suggesting moderate volatility over the previous day. Trading volume has decreased by 21 percent to $522 billion while market capitalization stands at roughly $13 billion, placing it in
UNI/USD 4-hour chart: UNI to rally overnight?
On the four-hour chart, we may see that the Uniswap price is once again repelling further declines as bulls prepare for another rally higher.
The price action for United States dollars on Uniswap was extremely volatile over the previous week. UNI/USD could not rise higher and reverse to $28.5 after a surge to $31.
The price of UNI/USD began a decline from the beginning of July, when it reached $140.42, setting up a lower high at $30.The subsequent days saw a substantial drop in price, with UNI falling more than 30% to $21. Over the following days, resistance was found at $24.5, and after some consolidation, another spike lower was seen today.
The price of Uniswap quickly rebounded to the $21.5 level, establishing a higher low. We expect UNI/USD to rally further during the next 24 hours and attempt to reach new highs over the weekend as long as a further downturn is avoided.
Uniswap Price Analysis: Conclusion
The UNI/USD price analysis is bullish for the next 24 hours, as the market retested the previous low before resuming its advance. We anticipate UNI/USD to rise above the current high and proceed higher over the weekend as long as the previous low remains intact.
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