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Uniswap (UNI) price jumps by 15% in DeFi, cryptocurrency market rebounds

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Uniswap (UNI) was among the best performers among the top cryptocurrency tokens by market capitalization in the previous 24 hours, logging better gains than other top cryptocurrencies, namely Bitcoin (BTC), Ether (ETH) and Binance Coin (BNB).

On Wednesday, the UNI/USD exchange rate jumped 13.26% to hit a seven-day high of $25.68. Traders continued to bid higher on the pair entering Wednesday, pushing its value higher to $26.07 at one point, up more than 15% from the previous session’s open of $22.66.

Market-wide recovery behind UNI gains?

The majority of UNI’s gains in the previous 24 hours seems to have surfaced in the wake of a market-wide recovery.

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For instance, the said timeframe witnessed Bitcoin, the benchmark cryptocurrency that enjoys heavy influence on the rest of the crypto tokens, climbed above $47,000 following a 4.85% upside move on Tuesday. Meanwhile, Ethereum saw its native asset, ETH, rallying toward $3,500 in a 4.57% price jump.

Elsewhere in the crypto market, BNB, XRP, Dogecoin (DOGE), Terra (LUNA) and Chainlink’s LINK also rose. In contrast, smart contracts platform Solana’s native asset, SOL, fell 6.47% following a denial-of-service disruption on its network.

At the same time, Cardano (ADA), one of Solana’s top rivals, dropped by more than 1%.

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The performance of the top 15 cryptocurrencies in the past 24 hours. Source: TradingView

At first, the gains among the top tokens, including Uniswap, looked to have been helped by capital rotations out of SOL and ADA markets.

In detail, Solana’s market cap surged by more than 400% quarter-to-date following its foray into the booming nonfungible token (NFT) sector, providing traders a decent opportunity to lock interim profits. Additionally, the network outage accelerated the profit-taking scenario.

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Uniswap price analysis: UNI breaks above $26 as bulls dominate the market.

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  • Uniswap price analysis shows that price movement has been bullish.
  • Price rises up to $26.4 during the day.
  • The support is found at the $25.8 level.

The bullish momentum is speeding up once again, according to the Uniswap price analysis. There has been a significant increase in price that occurred for the past two weeks, and the trend has been the same for today as well. The price has risen up today to the $26.4 level, gaining significant value for the cryptocurrency. There is a strong chance that the price will reach up to the $26.9 level.

UNI/USD 1-day price chart: Price on the rise again as bears step back early

The bulls have made a comeback after encountering the recent bearish pressure. The bulls have successfully been able to tackle the outgrowing bearish momentum and have once again secured their win in the 1-day price chart. This price has undergone significant improvement and is now present at the $26.4 stage. Meanwhile, the moving average (MA) is lower than the price value, i.e., $26.1, as the UNI price has stepped up today.

Uniswap price analysis: UNI breaks above $26 as bulls dominate the market. 1

The volatility has increased significantly during the day as the Bollinger bands are expanding rapidly. This has led to the upper Bollinger band reaching $27 value and the lower Bollinger band reaching $23.6 of value. The Relative Strength Index (RSI) is yet again confirming the uptrend as it has moved up to index 54 today.

Uniswap price analysis: Bearish candlesticks stretch out on the price chart denoting loss

The bulls are maintaining their lead quite impressively, as the price shows improvement today as well. But selling pressure is forming in the market, and the price is now settling at the $26.4 level and is expected to go down from here soon as the selling activity is increasing. The moving average is below the price level, i.e., at $26.1 as compared to the price level. At the same time, the Bollinger bands average is also found resting at the $26 level for today.

Uniswap price analysis: UNI breaks above $26 as bulls dominate the market. 2
UNI/USD 4-hours price chart. Source: TradingView

The upper Bollinger band is at the $28 value representing resistance for UNI/USD, and the lower Bollinger band is at the $25 value. The RSI score is also moving downwards and is trading at index 52. The RSI shows an increase in the selling activity.

As the overall atmosphere is bullish for UNI, the technical indicators are also giving us a buying signal. There are 17 indicators found at the buying position, with nine at the neutral and zero at the selling positions.

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The moving averages indicators are predicting the exact same trend as it is supporting the buyers as well. 14 indicators are standing at the buying position, none at the selling position, and one at the neutral position. There have been constant fluctuations in the price movement, which is why the oscillators are going neutral. Eight oscillators are around the neutral level, while three oscillators are on the buying spot and zero at the selling position.

Uniswap price analysis: Conclusion

The bulls are currently winning the game, as confirmed by the one-day and 4 hours Uniswap price analysis. The Uniswap price has observed a rise, and it is $26.4 of value at the time of writing. The uptrend has been unchanging for the past few weeks, and it is assumed to extend in the future as well. The price may get support at the current level, and bulls might reject further downside in the coming hours.

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Uniswap price analysis: Price regressed to $26.3 level as a result of a bearish win

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  • The price has decreased up to $26.29.
  • Uniswap price analysis predicts a bearish trend.
  • Cryptocurrency is supported at $23.671.

The price has been traveling low for the past few days as the bears have been struggling to remain at the lead. A downtrend has been observed today as well, as the price has been lowered to the $26.3 level as the bears have regained their strength. This has proved to be quite detrimental for the overall coin value, as chances of recovery have been postponed. It is expected that further decline will follow in the upcoming hours as well.

UNI/USD 1-day price chart: Recent setback turns price down to $26.3 mark

The one-day Uniswap price analysis is confirming a downward price movement for today, as the price has declined up to $26.3. The price has been experiencing a fall since the past few days with bullish interruptions as well. The bears have been able to bring the price down to $26..291 in the last 24 hours after gaining the advantage of the situation. The price has gone below the moving average (MA) value as well which is at $26.302.

Uniswap price analysis: Price regressed to $26.3 level as a result of a bearish win 1

The volatility has increased during the day which is yet another bearish sign. As a result, the upper Bollinger band value has now moved up to $27.51 whereas the lower Bollinger band value moved down to $23.671. The Relative Strength Index (RSI) score has undergone reduction to a certain degree as well as it is now at 54.

Uniswap price analysis: Cryptocurrency faces repulsion above $26 as bears steer safe

The four hours Uniswap price analysis is declaring the bearish lead as the price has been consistently declining. A downward trend has been observed since the past few hours as the price has moved down to the $26.28 level. The price has dropped significantly as the bearish momentum has been intensifying since the last four hours. The moving average, in the four hours price chart, is standing at the $26.31 level.

Uniswap price analysis: Price regressed to $26.3 level as a result of a bearish win 2
UNI/USD 4-hours price chart. Source: TradingView

A crossover between SMA 50 and SMA 20 took place earlier, which is expected to occur once again. The decrease in volatility has changed the upper Bollinger band value to $27.284 and the lower Bollinger band value to $25.4. The RSI score has decreased to 50.14 because of the drastic drop in UNI/USD value.

Uniswap price analysis: Price regressed to $26.3 level as a result of a bearish win 3
UNI/USD technical indicators chart. Source: TradingView

The technical indicators chart for UNI/USD is going in the bullish direction today because of the increase in price that was recorded over the period of past few weeks. There are 14 indicators present on the buying position, 10 indicators are on the neutral position while only two indicators are on the selling position.

The moving averages indicator is also dictating a strong rise in price by a bullish signal. There are 13 indicators currently settled on the buying mark, while both of the selling and neutral marks are holding one indicator each. The Oscillators are giving out a neutral indication for the day as there are nine oscillators at a neutral level, one oscillator at selling, and one oscillator at buying levels.

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Uniswap price analysis conclusion

The price experienced a drop today as it has been confirmed from the one-day and four hours Uniswap price analysis. Although the price went higher earlier, the bears are now back on track as they have been able to bring the price down to $26.29 in the last 24 hours. The cryptocurrency is to face more loss in the future as the hourly prediction has been on the unfavorable side as well.

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Uniswap Price Analysis: UNI consolidates above $25, slowly prepares to push higher?

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  • Uniswap price analysis is bullish today.
  • UNI/USD continued to consolidate above $25.
  • Closest resistance at $27.

Uniswap price analysis is bullish today as a higher low has been established above $27 after a several-day consolidation. Therefore, we expect UNI/USD to move higher over the next 24 hours and likely test the $27 mark.

Uniswap Price Analysis: UNI consolidates above $25, slowly prepares to push higher? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded mostly with bullish momentum over the last 24 hours. The market leader, Bitcoin, gained 2.91 percent, while Ethereum gained 2.05 percent. Meanwhile, Terra (LUNA) is among the top performers, with a gain of 7.5 percent.

Uniswap price movement in the last 24 hours: Uniswap continues to consolidate above $25

UNI/USD traded in a range of $25.31 – $26.22, indicating mild volatility over the last 24 hours. Trading volume totals $236 million, while the total market cap trades around $15.8 billion, ranking the coin in 11th place overall.

UNI/USD 4-hour chart: Ready to test $27 next?

On the 4-hour chart, we can see bullish momentum slowly forming as Uniswap price targets the $27 mark next.

Uniswap Price Analysis: UNI consolidates above $25, prepares to push higher?
UNI/USD 4-hour chart. Source: TradingView

Uniswap price has struggled to reach further upside after a very strong advance at the end of September. During the first days of October, UNI/USD set another higher high at $27 after breaking the previous high at $26.

What followed was a several-day consolidation around the $25 mark. On the 11th of October, Uniswap finally broke lower, moving to the $22.5 mark. From there, a reversal was seen, pushing UNI/USD towards a new higher high at $28.

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However, since then, a consolidation above $25 after a brief retracement has been seen. Overall, unless the Uniswap price action breaks below the $25 support, we expect further upside later this week.

Uniswap Price Analysis: Conclusion 

Uniswap price analysis is bullish today as a higher low has been established around $25 after consolidation over the last 24 hours. Therefore, we expect UNI/USD to continue higher later today and test the $27 mark next.

While waiting for Fantom to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

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