Uniswap Price Analysis: UNI back at $20, what direction next?

UNI USD price analysis

TL;DR Breakdown

  • Uniswap price analysis is bullish for today.
  • UNI spiked to $18.3 overnight.
  • Uniswap is likely to return above $21 today.

Uniswap is in a bull market today, and the price analysis indicates that it’s going higher. The quick drop overnight resulted in a lower low set at $18.3, but considering that further downside was swiftly rejected, we anticipate UNI/USD to bounce back today and climb above the $21 support.

Over the last 24 hours, the market as a whole has fallen by 2.85%, with Bitcoin declining by 2.85 % and Ethereum shedding 4.4%. Other top coins including Solana and Filecoin have seen worse declines.

Uniswap price movement in the last 24 hours: Uniswap spikes to $18.3

UNI/USD traded in a range of $18.47 – $21.54, indicating significant volatility over the last 24 hours. Trading volume has decreased by 10.31% and totals $539.4 million, while the total market cap trades around $12.37 billion, ranking the coin in 13th place overall.

UNI/USD 4-hour chart: UNI looking to return above $21 today?

On the 4-hour chart, we can see the Uniswap price gaining momentum over the past hours as bulls want to push back above the $21 support.

Uniswap Price Analysis: UNI back at $20, what direction next? 1
UNI/USD 4-hour chart. Source: TradingView

Uniswap price action has seen a strong 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 Uniswap price saw another drop of 30 %, 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 as a new swing low has likely been set at $18.30 after another spike lower overnight. Therefore, we expect UNI/USD to reverse higher later today and move back above the $21 support.

While waiting for Uniswap to move further, read our guides on Decentralized Exchanges, NFT Crypto, as well as Bitcoin Memes.

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 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.

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