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Uniswap Price Analysis: UNI consolidates above $25, slowly prepares to push higher?

Uniswap analysis

TL;DR Breakdown

  • Uniswap price analysis is bullish today.
  • UNI/USD continued to consolidate above $25.
  • Closest resistance at $27.

Uniswap price analysis is bullish today as a higher low has been established above $27 after a several-day consolidation. Therefore, we expect UNI/USD to move higher over the next 24 hours and likely test the $27 mark.

Uniswap Price Analysis: UNI consolidates above $25, slowly prepares to push higher? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded mostly with bullish momentum over the last 24 hours. The market leader, Bitcoin, gained 2.91 percent, while Ethereum gained 2.05 percent. Meanwhile, Terra (LUNA) is among the top performers, with a gain of 7.5 percent.

Uniswap price movement in the last 24 hours: Uniswap continues to consolidate above $25

UNI/USD traded in a range of $25.31 – $26.22, indicating mild volatility over the last 24 hours. Trading volume totals $236 million, while the total market cap trades around $15.8 billion, ranking the coin in 11th place overall.

UNI/USD 4-hour chart: Ready to test $27 next?

On the 4-hour chart, we can see bullish momentum slowly forming as Uniswap price targets the $27 mark next.

Uniswap Price Analysis: UNI consolidates above $25, prepares to push higher?
UNI/USD 4-hour chart. Source: TradingView

Uniswap price has struggled to reach further upside after a very strong advance at the end of September. During the first days of October, UNI/USD set another higher high at $27 after breaking the previous high at $26.

What followed was a several-day consolidation around the $25 mark. On the 11th of October, Uniswap finally broke lower, moving to the $22.5 mark. From there, a reversal was seen, pushing UNI/USD towards a new higher high at $28.

However, since then, a consolidation above $25 after a brief retracement has been seen. Overall, unless the Uniswap price action breaks below the $25 support, we expect further upside later this week.

Uniswap Price Analysis: Conclusion 

Uniswap price analysis is bullish today as a higher low has been established around $25 after consolidation over the last 24 hours. Therefore, we expect UNI/USD to continue higher later today and test the $27 mark next.

While waiting for Fantom to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

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.

Lapin

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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