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UNI/USD preparing for consolidation against the $30 target

Cryptopolitan


TL;DR Breakdown

  • Today’s Uniswap price analysis suggests a bullish trend line
  • The MACD histogram lies within the red zone, an indication of increasing bearish momentum
  • Uniswap RSI on the 4-hour chart is pointing towards neutrality

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. 

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

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. 

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



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