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Uniswap Price Analysis: UNI breaks previous high at $27, set for further upside today?

TL;DR Breakdown

  • Uniswap price analysis is bullish.
  • UNI/USD broke past $27 today.
  • Next resistance at $28.5.

Uniswap price analysis is bullish today as the previous swing high was broken earlier today, with bullish momentum continuing to push higher. Therefore, we expect UNI/USD to see further upside over the next 24 hours.

Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded with strong bullish momentum over the last 24 hours. The market leader, Bitcoin, gained 1.14percent, while Ethereum is up by 2.28 percent. Meanwhile, Polkadot (DOT) is among the best performers, with a gain of 8 percent.

Uniswap price movement in the last 24 hours: Uniswap breaks $27 after a slight retracement overnight

UNI/USD traded in a range of $25.52 – $27.89, indicating substantial volatility over the last 24 hours. Trading volume has declined by 8.73 percent and totals $533 million, while the total market cap trades around $16.9 billion, ranking the coin in 11th place overall.

UNI/USD 4-hour chart: UNI to reach $28.5 today?

On the 4-hour chart, we can see Uniswap price action continuing higher, likely leading to the $28.5 mark later today.

UNI/USD 4-hour chart. Source: TradingView

Uniswap price action has seen sideways consolidation for most of the month. After a move higher to $27 at the beginning of October, the following retracement resulted in a consolidation area formed around $24-$26.

UNI/USD broke lower on the 11th of October, leading to a new swing low at $22.5. From there, reversal was seen during the middle of the week, leading UNI to the $27 previous swing high.

Late yesterday, a retracement to $25.5 was seen, resulting in a consolidation overnight, indicating that a higher low has been set. Uniswap price regained its momentum today, rallying past the $27 previous resistance. Overall, we expect UNI/USD to continue higher over the next 24 hours and break above the $28.5 mark next.

Uniswap Price Analysis: Conclusion

Uniswap price analysis is bullish today as a strong push higher was seen earlier after a slight retracement overnight. Therefore, we expect UNI/USD to see the further upside and target the $28.5 mark next.

While waiting for Uniswap to move further, read our guides on Metaverse wallet, Fiat wallet reviews, and NFT art finance token.

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 October 16, 2021 2:31 pm

Lapin

Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

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