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Uniswap price analysis: UNI/USD aims to surpass the intraday high

TL;DR Breakdown

  • Uniswap price analysis is bullish for today.
  • UNI spiked to $21.9 overnight.
  • The Uniswap market is less volatile.

Uniswap price analysis: General price overview

Uniswap followed a favorable trend on the previous day’s Uniswap price analysis chart. However, this bullish movement was halted by solid selling pressure when the daily price analysis chart set in, causing the prices to drop sharply to the lowest level on the daily price analysis chart at $21. The bulls seemed to be on the drawing board strategizing a possible attack that would alter the current negative trend. The bulls congregated in large numbers and amassed enough power to establish solid support that reversed the bearish trend, causing the UNI/USD to surge.

The RSI is neutral and trades near the indicator’s mean line at the 50 index level. The indicator’s current position allows for significant price movement in either direction on the short-term charts. The indicator is currently moving horizontally, suggesting that both sides are battling to establish control over the price action.

Cryptocurrency heat map. Source: Coin360

The overall cryptocurrency market is optimistic, as shown by the heat map. BTC, the most well-known digital currency, has risen by 4% and is trading with few dollars below $45K, whereas the second-largest digital asset has surged y 8% and is currently trading at $3.1K.With the market continuing to strengthen, there are signs that altcoins are gaining ground as well. DOT is the top gainer of the day, with more than a 20 percent rise in price. UNI/USD, like other cryptocurrencies, is trading up strongly with a 5% price increase; it’s currently priced at $21.0.

Uniswap price movement in the last 24 hours: Uniswap spikes to $21.9

UNI/USD traded in a range of $21.1 – $21.9, indicating a less volatile market over the last 24 hours. 

The moving average (MA) is presently at $2.58, which is also greater than the price level. The relative strength index (RSI) is in a bearish position to the centerline with a score of 47 and on a downward slope, indicating an even more bearish signal.

UNI/USD 4-hour chart: UNI/USD is bullish

UNI/USD 4-hour chart. Source: TradingView

Uniswap price action has seen a solid bearish momentum return this week. After an initial drop from the $31 high at the beginning of September, UNI/USD consolidated above $21 support.

From there, a strong move higher took the market to the $27 mark, where a significant swing lower high was set. However, UNI did not stay at this price level for long as bearish momentum took over again.

The 4-hour Uniswap price chart displays the presence of a few bulls, albeit on a minor scale. Bulls are attempting to take control of the market, although conditions aren’t ideal for them yet, and there is an increasing chance that the final green candlestick will turn red at any time.

Yesterday Uniswap price saw a drop of 30 percent, resulting in the current low set at $18.3. Considering the overall price action development, we expect UNI/USD to reverse later today and look to regain more of the loss over the remainder of this week.

Uniswap Price Analysis: Conclusion

Uniswap price analysis is bullish for today. Most technical indicators are positive, suggesting a possible price surge in the next 24 hours as the UNI/USD has broken above the $20 support.

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.

This post was last modified on September 23, 2021 7:07 am

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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