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Uniswap Price Analysis: UNI shows signs of breaching the $27 resistance

TL;DR Breakdown

Uniswap price analysis is bullish today.
UNI/USD continued to consolidate above $26.
Closest resistance lies at $27.

The analysis of UNISWAP’s price 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.

Cryptocurrency heat map. Source: Coin360

The overall cryptocurrency market is entirely green with all digital assets trading bullishly for the past 24-hours. Bitcoin crossed the $65,000 mark after a 1.54 percent rise where it set a new all-time high. Ethereum posted a record gain of 8.43 percent and broke above $4,178.

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

UNI/USD is trading in a range of $26.31 – $27.9, implying little volatility during the last 24 hours. Volume totals $236 million, putting the coin in 11th place overall among a market cap of roughly $15.8 billion and trading volume of about $236 million.

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

On the 4-hour chart, we can see a favorable trend slowly developing as Uniswap prices cross the $27 level.

UNI/USD 4-hour chart. Source: TradingView

Following a particularly strong advance at the end of September, UNIS/USD has been unable to gain further ground. After breaking the previous high of $26 on October 1, UNI/USD established another peak at $27 later that day.

The price then consolidated around $25 for several days. On October 11, Uniswap finally broke, falling to $22.5. A reversal ensued, pushing UNI/USD towards a new high at $28.

Since then, the Uniswap price has consolidated above $25 before moving higher. Overall, unless the Uniswap price drops below the $25 support level later this week, we believe that there will be further gains in the near future.

Uniswap Price Analysis: Conclusion

The price of Uniswap is currently in an uptrend, and it has established a higher high after consolidation over the previous 24 hours. As a result, we anticipate UNI/USD to rise further today and possibly reach $27 before declining.

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.

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.