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Uniswap Price Analysis: UNI below resistance at $26.18, set for a bullish breach?


TL;DR Breakdown

  • The Uniswap price analysis for today is sideways for today, up by 0.27%.
  • UNI/USDT has found support at 25.75 USD, and a major one at $23.53.
  • The current price momentum is below the resistance at $26.18, a breach is possible.

The Uniswap price analysis for today is sideways as the bulls are currently testing the important resistance at $26.18. If the bulls take over, there is a possibility that this resistance doesn’t hold anymore. We have seen a lot of potential in the currency for an uptrend in recent days.

According to the data by Coinmarketcap, the Uniswap token is trading with a one-day volume of 474 million USD, down by 24.62 percent. There are plenty of other tokens that performed quite well today like LUNA, CELR, and OMG.

Uniswap price analysis: price movement in recent weeks

Uniswap price trend in the recent days has been quite bullish. On 14th September, a price rally of 13.33 percent was experienced, with another 6.97 percent surge the following day. A 12.44 percent drop was seen on 20th September with another 8.8 percent drop on the following day.

A huge surge of 23.47 percent was seen when Bitcoin surged by more than 10 percent on 26th September. On the last day of September, the price surge was 2.26 percent, while October started with a bullish 8.97 percent. But, according to analysts, “Uptober” has just begun.

Uniswap price analysis: Technical indicators are still bullish

The Uniswap token was unable to break out from the upper end of the Bollinger Bands but the price is still situated in the upper end. If the price action breaks above the resistance at $26.18, we might see the price break out from the upper end of the Bands.

The price is well above the 50-day and 100-day Moving Averages. Hence, our Uniswap price analysis is still bullish in the short term.

Uniswap price analysis
Uniswap price analysis on the 4-hour chart by TradingView

The RSI indicator shows a value just below 60, which means that the buying pressure is high. The gradient is slightly positive, meaning higher prices are possible.

The MACD indicator shows that the signal line has surpassed the MACD line, hinting that the price movement might turn bearish in the short term. The histogram has now turned red.

Uniswap Price Analysis: UNI below resistance at $26.18, set for a bullish breach? 1
Uniswap price analysis on the 4-hour chart by TradingView

Uniswap price analysis: Conclusion

Our Uniswap price analysis ensures a sideways movement for the short term as Bitcoin tries to reclaim the 48K price zone. If the resistance at $26.18 breaks down, we will see higher prices. If you are looking for a deeper analysis, kindly have a look at our long-term price predictions.

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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