Altcoin News

Uniswap Price Analysis: UNI/USD will break above the $27 resistance

TL;DR Breakdown

  • Uniswap price analysis is bullish today.
  • UNI/USD continued to consolidate above $26.
  • UNI/USD is consolidating above a significant resistance point at $27.

UNISWAP’s price analysis is now bullish, as a higher low has been established above $27 following a several-day consolidation. As a result, we anticipate that UNI/USD will rise over the next 24 hours and perhaps challenge the $27 price barrier. As this article is being written, the price of UNI/USD is around $26.80.

Uniswap price movement in the last 24 hours: Closest resistance lies at $27

Although UNI/USD is currently consolidating below its resistance level of $27, the price of UNI/USD has been rising for several hours. The market data also suggests a bullish trend: the MACD, which measures the difference in buying and selling pressure, is positive, meaning that market buys have exceeded sales over the last 24-hour period. Additionally, Bollinger Bands have been widening recently – sometimes indicative of an upcoming price increase.

UNISWAP’s closest resistance lies at $27. If Uniswap manages to rise above this point, our next set of significant resistance lies around $28 and $30.

UNI/USD has been consolidating around the same price level for several days, fluctuating between a low of $26 and a high of 27. In addition, these fluctuations have taken place within an ascending channel. The market’s current down-trend has been halted by this ascending trend line, indicating that Uniswap will likely begin to rise in value over the next 24 hours. Additionally, the MACD is positive, implying higher prices over time.

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

On the 4-hour chart, we can observe a favorable trend gradually taking shape as Uniswap prices approach $27.

UNI/USD 4-hour chart. Source: TradingView

A test of $27 will be possible if the sell-off continues, with the most recent low being around $26.50 -$26.80. A continued increase in prices indicates that UNI/USD will first break through resistance at $27 before seeing further gains throughout the day.

UNIS/USD has been unable to build on its previous gains following a particularly robust spike at the end of September. UNI/USD broke the previous high of $26 on October 1, establishing another peak at $27 later.

The price has been consolidating around $25 for the past few days. On October 11, Uniswap finally broke, plummeting to $22.5. A reversal ensued, leading UNI/USD to a fresh high of $28.

Since then, the Uniswap price has remained stable near $25 before rising. Overall, unless the Uniswap price falls below the $25 support level later this week, we believe there will be further gains in the short term.

Uniswap Price Analysis: Conclusion

The price of Uniswap is in an uptrend at the moment, having recently broken out above a period of consolidation after 24 hours. As a result, we expect UNI/USD to rise further today and perhaps touch $27 before declining.

Disclaimer. The information provided is not trading advice. 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 22, 2021 3:39 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.

Recent Posts

Polkadot price analysis: DOT deflates to $29, as bears exert control

TL;DR Breakdown Polkadot price analysis is bearish today.Resistance for DOT/USD is present at $29.8.Support for… Read More

December 8, 2021

Is SEC investigating Elon Musk’s new haircut?

TL;DR Breakdown SEC to open an investigation into Elon Musk’s new haircutA bizarre investigation against… Read More

December 8, 2021

7 Cryptocurrencies to Buy & Get Rich Before 2022

Digital currencies have become part and parcel of many trades. We see people now using… Read More

December 8, 2021

Investing in Cryptocurrency – A Secure Investment or A Way to be looted?

Investment has been a part of our economy for decades. Since then, people are always… Read More

December 8, 2021

How Are Companies Leveraging Blockchain Technology?

Of late, Blockchain has become a family term among the people who love or even… Read More

December 8, 2021

Primary Steps To Consider To Mining Bitcoin

As the popularity of cryptocurrency is rising at rocket speed, mining has become typical over… Read More

December 8, 2021

This website uses cookies.