- Uniswap price analysis is bullish for today.
- UNI spiked to $18.3 overnight.
- Uniswap is likely to return above $21 today.
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.
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 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.
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.
Uniswap Price Prediction: UNI bulls eye 40% upswing
- Uniswap price broke out of a descending parallel channel on October 1 but lacks momentum.
- A decisive close above $25.24 could signal the start of an uptrend.
- UNI will face $29.43 before hitting the $33.34 resistance barrier.
Uniswap price broke out of its consolidation phase on October 1 but showed no signs of moving. A bounce that pushes it past the immediate resistance level could trigger the start of an uptrend.
Uniswap price prepares for volatile move
Uniswap price set up three lower lows and lower highs since August 18. Connecting these swing points using trend lines results in the formation of a descending parallel channel. While a move above the channel’s upper barrier usually indicates a breakout and catalyzes a run-up, UNI seems to be facing a problem.
Since its breakout, Uniswap price has dropped 7%, slicing through the $25.24 support floor. Therefore, UNI needs to gather steam and produce a decisive close above this resistance level to signal the start of an uptrend.
Doing so will allow Uniswap price to embark on a 40% climb to $33.34. However, UNI will face stiff resistance around $29.43, which must be cleared for the bulls to reach their destination.
UNI/USDT 1-day chart
Firmly supporting the potential bullish outlook is Santiment’s Market Value to Realized Value (MVRV) model. This on-chain metric is used to determine the average profit/loss of investors that purchased UNI over the past year.
Currently, the 365-day MVRV is hovering at -1.21%, suggesting that short-term investors have already sold their holdings and that a sell-off at this stage is unlikely. Moreover, the negative territory is where long-term holders accumulate. Therefore, a potential surge in buying pressure could kick-start a new uptrend.
UNI 365-day MVRV chart
IntoTheBlock’s Global In/Out of the Money (GIOM) model supports the cautiously optimistic scenario. This model shows that roughly 31,700 addresses that previously purchased 244.64 million UNI at an average price of $27.29 are “Out of the Money” and are likely to sell if Uniswap price ever rises to this level.
Therefore, the buyers need to overcome this resistance level to have any chances of an upswing.
UNI GIOM chart
While things are not looking so good for Uniswap price, continuing this downswing could lead to a retest of the $20.62 support floor. A breakdown of this barrier will reveal a weakness among the buyers and knock UNI down to $18.
If the bulls fail to defend this level, it will invalidate the bullish thesis and likely knock UNI down to $14.01.
Uniswap price analysis: Price equalizes above $24 after minimal recovery
- UNI price has been uplifted to $24.82.
- Uniswap price analysis is indicating rise in price.
- Support has been stable at $18.828.
The Uniswap price analysis suggests, the UNI/USD price has been unrestrained from the bearish pressure, as slight progress has been reported for today. The price is trying to resettle above $24 after following the downward movement for the past week. Right now, it is present at a $24.82 value as a slight bullish recovery has been detected in the last 24-hours. Although the bears tried to restrict the upward trend, the bulls are trying to proceed with their mission once again.
UNI/USD 1-day price chart: Bullish momentum stimulates as to retrieve price over $24
The one-day Uniswap price analysis is showing signs of bullish recovery as the green candlestick has returned to the price chart. The past few days have proved crucial for the cryptocurrency, as a downward trend has been following. There has been a recurring fall occurring in the coin value, but today its value has been restored to $24.82. The current value is quite close to the moving average (MA) value which is settled at $25.5.
The SMA 20 curve is traveling high again as the bulls are regaining their strength. The Bollinger bands Indicator in the 1-day price chart is pointing out the following values; the upper value at $27.91 while the lower one at $18.82. The Relative Strength Index (RSI) score has improved up to 51.54 as well because of the rise in price.
Uniswap price analysis: UNI faces rejection above $24 after recent drop-off
The price has been traveling low according to the four hours Uniswap price analysis. The recent downturn in price movement has resulted in its decline as it has been lowered to $24.82. Chances of recovery seem minimized as the bearish slide has been proceeding uninterruptedly. The price has gone below the moving average value as well which has been standing at $25.2 position.
As the volatility has slightly increased, the upper Bollinger band is now touching the $26.20 mark whereas the lower Bollinger band is on the $24.35 mark. The RSI curve has descended to the 45.30 mark, confirming the drop in price.
On the contrary, improvement in price has been observed if we overview the situation on a general basis. This is why the technical indicators chart is giving a bullish hint, with 12 indicators on the buying mark, nine indicators on the neutral mark, and five indicators on the selling mark.
The moving averages indicator is confirming the overall bullish lead as well by giving out a buying signal. We can see nine indicators standing on the buying position, with only five indicators on the selling position and one left on the neutral position. The Oscillators are giving a bullish signal as well, and there are eight oscillators on the neutral level, three oscillators on the buying level, and none on the selling level.
Uniswap price analysis conclusion
The bulls are trying to recover once again after a continuous drop in price occurred during the past few days. The UNI/USD price has rejoined the $24.82 level, thus confirming the rise in price. We can expect a downward price movement in the upcoming hours, as the four hours price analysis is dropping bearish hints.
Uniswap Price Analysis: UNI retests $25 as support, will it hold?
- Uniswap price analysis is bullish today.
- UNI/USD retraced to $25 over the last 24 hours.
- Next support at $23.
Uniswap price analysis is bullish today as a retracement over the last 24 hours took the market towards the previous resistance level of $25 to be retested as support. Therefore, we expect bullish momentum to return later today as a new higher low is likely set.
The overall market traded mostly in the red over the last 24 hours. The market leader, Bitcoin, gained 0.22 percent, while Ethereum lost 1.1 percent. Axie Infinity (AXS) is still the top performer, with a gain of 32 percent.
Uniswap price movement in the last 24 hours: Uniswap rests previous resistance at $25 as a support
UNI/USD traded in a range of $24.91 – $26.61, indicating mild volatility over the last 24 hours. Trading volume has declined by 22.71 percent and totals $398.4 million, while the total market cap trades around $15.65 billion, ranking the coin in 12th place overall.
UNI/USD 4-hour chart: UNI to continue higher?
On the 4-hour chart, we can see the $25 mark preventing further downside, indicating we could see bulls continue higher from there.
Uniswap price action has seen bearish momentum over the past weeks, with large volatile moves taking the market to the $18 low. However, some bullish momentum was seen last week, with a sharp spike higher resulting in the $26 mark reached last Monday.
A retracement to the $22.5 mark followed, where a several-day consolidation was seen during the middle of last week. On Friday, bulls gathered momentum to push higher again, leading UNI/USD to $27 next resistance this time.
Since then, Uniswap price has slowly retraced and reached the $25 support. If any further downside is not seen, we assume a new higher low is set, and UNI/USD will rally higher later this week from there.
Uniswap Price Analysis: Conclusion
Uniswap price analysis is bullish today as a new higher low has likely been set at the $25 mark after a slight retracement over the last 24 hours. Therefore, we expect UNI/USD to continue higher later today as a new higher low is likely set.
While waiting for Uniswap to move further, read our guides on Mycelium Wallet, Next Cryptocurrency to Explode in 2021, as well as our BitMEX review.