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Uniswap Price Analysis: UNI struggles to overcome resistance at $26, further upsides rejected at $25.5

XTZ price analysis

TL;DR Breakdown

  • Uniswap price analysis is bullish today.
  • UNI/USD set a higher low at $24.7 today.
  • Uniswap currently tests the $25.5 mark as the daily high.

The Uniswap price analysis is positive today, as we witnessed a substantial rebound after a drop to $24.5 over the weekend. As a result, we expect UNI/USD to rise even higher in the near future, with the next significant barrier at $27.5

Uniswap Price Analysis: UNI struggles to overcome resistance at $26, further upsides rejected at $25.5 1Cryptocurrency heat map. Source: Coin360

According to the Coin 360 cryptocurrency heatmap, the overall market traded mostly with bearish momentum over the last 24 hours. Bitcoin lost 3.8 percent, while Ethereum shed 2.87 percent. Meanwhile, Ripple (XRP) is the worst performer of the day with a 24-hour negative change of 6.7 percent. 

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

The UNI/USD pair was trading in a range of $25.15 – $26.03 throughout the day, exhibiting little volatility over the previous 24 hours. Trading volume has increased by 29.48 percent and stands at $237 million, putting the coin in 14th position among all cryptocurrency market caps.

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

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

Uniswap price analysis
UNI/USD 4-hour chart. Source: TradingView

By the end of October, the Uniswap price action had reverted to bearish momentum. After several attempts at the $27.5 level throughout the second half of last month, a slightly higher high was established at $28.4 before a sharp decline occurred on the 27th of October.

On November 6th, UNI/USD began to recover, climbing back to the $27.5 mark on the 4th of November. After several days of strong retracement, UNI rose to $24.5.

UNI/USD began to recover on the weekend, rising above $25 and returning to previous support. UNI/USD dipped below $26 overnight, with another boost expected after a brief halt in the next 24 hours.

Uniswap Price Analysis: Conclusion 

UNI is currently in a buying mood, as the price rallied over the last 24 hours following the formation of a crucial high at $24.5 on Sunday. We are therefore bullish for UNI/USD because more upside 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.
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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