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Uniswap Price Analysis: UNI/USD preparing for consolidation against the $30 target

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Today’s Uniswap price analysis suggests a bullish trend line on the 24-hour chart after undergoing a 6.54 percent upswing. The UNI/USD pair has already recovered losses incurred on Thursday, and the majority of the major technical indicators show that the coin will trend upwards in the next 24-hours. 

Most of the digital assets market is trading within mixed signals, with market leaders BTC and ETH gaining at least 4 percent on the daily chart. While BNB, ADA, and XRP are losing part of their value on the 24-hour chart. The best performer is Solana which saw a 20 percent bullish movement to the $80 mark.

 

Uniswap price movement in the last 24 hours: Uniswap bears almost break below $25

Our 24-hour Uniswap price analysis chart shows a daily range of $25.20 – $27.30. This is a tight range showing the drop in volatility over the last 24 hours. The trading volume for Uniswap surged by 13 percent to $396 million in the last 24 hours. Uniswap total market capitalization stands at $16.8 billion after a 6 percent daily positive change. According to Coin Market Cap, Uniswap ranks at number #11 among the top ten cryptos by market cap. 

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UNI/USD 4-hour chart: UNI starts to rally

Uniswap Price Analysis
Source: Tradingview

Across the 4-hour technical indicators for our Uniswap price analysis, the MACD histogram lies within the red zone, an indication of increasing bearish momentum. However, the red bars are short and decreasing in size. Therefore suggesting the bearish momentum might not last for a long time. Meanwhile, keep note that the momentum has only risen between $27.000 and $27.272, and the possibility of bearish forces brings our short-term bear target to the 20-day EMA at $26.00.

Uniswap RSI on the 4-hour chart is pointing towards neutrality and currently hovers around the 57 index level. The mark shows the coin has much room in the overbought region if the bulls are going to be consistent. However, the price is likely to fall and break below the current support if the RSI crosses the 65 mark. 

Uniswap Price Analysis: Conclusion

The Uniswap price analysis is bullish on today’s market as the UNI/USD continued to trend upwards from the $25 resistance. We, therefore, anticipate further upswings in the next 24 hours until the coin can break the $30 resistance. As you wait for Uniswap to trend upwards, kindly read some of our long-term forecasts on the cryptocurrency market. 

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Uniswap (UNI) explodes by 30% thanks to China’s hostility towards cryptocurrencies – Explanations

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The cryptocurrency market is broadly up on Monday, but there is one crypto that stands out significantly from the rest this morning, Uniswap (UNI), now the 12th largest digital currency on the market.

It shows a gain of 30% over 24 hours and nearly 10% over a week, making it the best performing cryptocurrency in the Top 50 at the time of writing, after peaking at $ 26 in the night from Sunday to Monday.

And while other cryptocurrencies are essentially rebounding against a backdrop of profit taking following their fall last week, Uniswap’s outperformance can be explained by recent statements by Chinese authorities, who reiterated and strengthened their opposition to cryptocurrencies last Friday.

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China’s hostility to cryptocurrency boosts Uniswap (UNI)

Crypto Uniswap

Indeed, Uniswap is a decentralized exchange platform, which means that it facilitates peer-to-peer exchanges without intermediaries. Uniswap is therefore one of the tools that could make it possible to circumvent the Chinese ban on activities linked to cryptocurrencies.

“The big rotation in everything decentralized is there and it’s all thanks to China’s latest and arguably most aggressive crypto ban,” said Denis Vinokourov, head of research at Synergia Capital, according to Coindesk.

Recall that on Friday, the PBOC, the central bank of China, declared all cryptocurrency-related activities illegal, prohibiting offshore platforms from serving Chinese customers. Moreover, Huobi, which operates in the country, announced that it has already taken measures to comply with the new regulations, by suspending the registration of new users in China, which has led to a plunge in its share price.

Uniswap Technical Analysis (UNI): The daily context remains bearish

From a graphical point of view, it should be noted that while the rise of Uniswap over the weekend is encouraging, it was not enough to significantly improve the profile of the cryptocurrency.

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Indeed, as seen on the daily chart below, Uniswap is still in a bearish channel that has been visible for around 1 month. For now, the upper bound of this channel seems to have stopped the upward movement, and a correction could follow.

Uniswap

To attest to a top exit the channel Uniswap (UNI) must cross the $ 27 threshold, which would also correspond to a crossing of the 200 day moving average. If, on the contrary, a correction materializes, it will be noted that a fall to $ 20 would offer an ideal buying opportunity.

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Uniswap Price Analysis: UNI retests $18.3 support, prepares for a rally higher?

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  • Uniswap price analysis is bullish for today.
  • UNI/USD saw another rejection above $18.3 support yesterday.
  • Uniswap currently prepares for another rally.

Uniswap price analysis is bullish today as the market has rejected further downside at $18.3 for the second time this week. Therefore, we expect UNI/USD to reverse and look to set a higher high early next week.

Uniswap Price Analysis: UNI retests $18.3 support, prepares for a rally higher? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded mostly in the green over the last 24 hours. The market leader, Bitcoin, is up by 1.24 percent, while Ethereum has gained 0.13 percent. Cardano (ADA) is the top performer right now, with an increase of 8.66 percent.

Uniswap price movement in the last 24 hours: Uniswap saw another spike to $18.3

UNI/USD traded with a moderate amount of volatility over the last 24 hours. Trading volume has declined by 32.07 percent and totals $312.8 billion, while the total market capitalization trades around $11.76 billion, ranking the coin in 14th place overall.

UNI/USD 4-hour chart: UNI set to reverse? 

On the 4-hour chart, we can see the Uniswap price currently gathering momentum before another push higher is likely seen tomorrow. 

Uniswap Price Analysis: UNI retests $18.3 support, prepares for a rally higher?
UNI/USD 4-hour chart. Source: TradingView

Uniswap price action has traded with a strong bearish momentum this month. After peaking around the $31 mark, we saw a rapid decline on the 7th of September, followed by several days of consolidation and a rally to $27, where a lower high was set.

Last week, another drop lower began, resulting in a further loss of more than 30 percent. Support was found above $18.3, with a clear rejection followed by a move above $21.5 previous support turned resistance.

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However, yesterday, bears took over the momentum again, sending UNI/USD back to the $18.3 support. Another rejection was seen above the support, indicating that the Uniswap price action is ready to reverse and move higher early next week.

Uniswap Price Analysis: Conclusion 

Uniswap price analysis is bullish as the $18.3 prevented further downside once again yesterday after a quick spike lower. Therefore, we expect UNI/USD to reverse and look to set a higher high early next week.

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

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Uniswap Price Analysis: UNI sets lower low at $18.3, ready to reverse today?

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Uniswap price analysis is bullish today as a rapid spike lower was seen overnight, resulting in a lower low set at $18.3. However, considering that further downside was quickly rejected, we expect UNI/USD to reverse today and return above the $21 support.

Uniswap Price Analysis: UNI sets lower low at $18.3, ready to reverse today? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded in the red over the last 24 hours, with the market leader, Bitcoin, down by 2.85 percent. Meanwhile, Ethereum has lost 4.4 percent, with worse performance for other top altcoins such as Solana and Filecoin.

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 percent 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 sets lower low at $18.3, ready to reverse today?
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.

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The Uniswap price saw another drop of 30 percent, 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.

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