TL;DR Breakdown
- UNI finds support at $30.
- Previous local resistance at $31.5 still holds.
- Next significant resistance around $32-$32.5.
Today’s Uniswap price prediction is bullish as the market continues to set higher lows gradually as it builds momentum to finally move above the previous swing high at $32.5. After the resistance is broken, we should see a rapid move towards the next major resistance at $35.
Cryptocurrency heat map. Source: Coin360
The overall crypto market is in the green today. Practically every altcoin has seen upside over the past 24 hours, with several setting new all-time highs. Ripple (XRP) has performed the best, leading to a gain of 27 percent. Vechain (VET), Binance Coin(BNB), and Tezos (XTZ) have set new all-time highs with gains of 15.5, 13.5, and 23.5, respectively.
Uniswap price prediction: Uniswap slowly moves higher, set to break $32 later this week
After a low volatility price action yesterday, UNI/USD opened at $30.82 resulted in a brief retest of $30 level. Since then, the Uniswap price action has slowly pushed higher as it looks to move above the previous local swing high of $31.5. Once this level is broken, we should see UNI/USD push higher to break the $32.5 previous major swing high.
Uniswap price movement in the last 24 hours
The UNI/USD price moved in a range of $29.69 – $31.53, meaning a moderate amount of volatility for the altcoin. Trading volume has increased by 12 percent and totals $497 billion. The total market cap stands at $16.3 billion, ranking the cryptocurrency in 8th place overall.
UNI/USD 4-hour chart – UNI continues to set higher lows as it slowly builds momentum
On the 4-hour chart, we can see several higher lows set over the past days as the Uniswap price momentum slowly build up to move above the previous swing high of $32.5
UNI/USD 4-hour chart. Source: TradingView
Overall, Uniswap has slowly recovered some of the loss that was seen at the end of March, when the price dropped by 30 percent over a couple of days after failing to breach above the $37 mark. Support was finally found around the $26 mark on the 24th of March. After some consolidation, bullish momentum for the Uniswap price returned, and the market quickly moved to $29.
From there, UNI/USD consolidated for several days until another push lower was made at the end of March. Bulls quickly picked up on selling pressure, resulting in a strong reversal and strong move higher towards the $30 mark.
Since a new higher local high was set, the Uniswap price sentiment turned bullish again. This price action movement resulted in another push higher on Sunday, with $32.5 set as the new swing high. On Saturday, the market reversed and set another higher low at $29, with strong rejection for further downside shortly after.
Over the last 24 hours, UNI/USD has moved in a relatively small range again. Uniswap failed to set another higher high as resistance around $31.5 was found. However, another higher low was made, meaning that the bullish momentum is still building up. Therefore, we expect the market to continue attempting to break above the $32.5 previous swing high later this week.
After UNI breaks the $32.5 previous high, we will likely see bullish momentum increasing further, likely resulting in a quick push towards $35. From there, bears will probably start increasing selling pressure, as seen several times over the past month.
Uniswap Price Prediction: Conclusion
Uniswap price prediction is bullish as the market continues setting higher lows and prepares to break through the $32.5 previous swing high finally. Therefore, we expect further upside over the following days, with the next significant resistance around $35 likely to be reached by the end of the week.
While waiting for UNI to move above $32.5, see our Bitcoin Cash price prediction. To learn more about one of the best-known cryptocurrencies, read our Dogecoin mining guide and long-term price prediction.
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.
