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Uniswap Price Analysis: UNI returns above $25, further recovery to follow?

Uniswap Price analysis

TL;DR Breakdown

  • Uniswap price analysis is bullish today.
  • UNI/USD set a higher low at $24.5 over the weekend.
  • Uniswap currently tests the $26 mark.

Uniswap price analysis is bullish today as we saw a strong recovery after a spike lower to $24.5 over the weekend. Therefore, we expect UNI/USD to continue higher with the next major resistance at $27.5

Uniswap Price Analysis: UNI returns above $25, further recovery to follow? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded with bullish momentum over the last 24 hours. Bitcoin gained 6.43 percent, while Ethereum 2.68 percent. Meanwhile, Avalanche (AVAX) is among the top performers from the major altcoins, with a gain of 9 percent.

Uniswap price movement in the last 24 hours: Uniswap returns above $25, prepares to move higher

UNI/USD traded in a range of $25.15 – $26.03, indicating mild volatility over the last 24 hours. Trading volume has increased by 29.48 percent and totals $237 million, while the total market cap trades around 16.24 billion, ranking the coin in 14th place overall.

UNI/USD 4-hour chart: UNI set to move higher?

On the 4-hour chart, we can see the Uniswap price action testing the $26 mark as bullish momentum has resumed today.

Uniswap Price Analysis: UNI returns above $25, further recovery to follow?
UNI/USD 4-hour chart. Source: TradingView

Uniswap price action saw bearish momentum return by the end of October. After several tests of the $27.5 mark during the second half of last month, a slightly higher high was set at $28.4 before a strong spike lower followed on the 27th of October.

Last week, UNI/USD started to recover, reaching the $27.5 mark again on the 4th of November. Another strong retracement followed over several days, leading UNI to spike to $24.5.

Uniswap started to recover over the weekend, returning above $25 previous support. Overnight, a slight upsurge took UNI/USD back below $26, with further upside likely to be seen over the next 24 hours after a brief pause.

Uniswap Price Analysis: Conclusion 

Uniswap price analysis is bullish today as a higher low was set at $24.5 over the weekend, with further upside following over the last 24 hours.  Therefore, we are bullish for UNI/USD as more eupside should follow later today.

While waiting for Uniswap to move further, read our guides on NFT tokens, Gemini Exchange Review, and Sunacrip.

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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