We anticipate UNI/USD to spike to $28

TL;DR Breakdown

  • Uniswap price analysis is bullish.
  • UNI/USD broke below $26 today.
  • Next resistance at $28.5.

Today’s Uniswap price analysis is bullish, as the previous swing high was broken earlier today, with bull momentum continuing to drive up. As a result, we anticipate that UNI/USD will rise even more in the coming 24 hours.

Uniswap price movement in the last 24 hours: Next resistance lies at $28.5.

Uniswap broke below $26 with a large bullish candle earlier today. The break suggests that bears are beginning to lose control of price action as their grip on UNI/USD loosens. Bull pressure is driving the market upwards at an ever-increasing pace, which should continue throughout the rest of the day.

We anticipate that the market will surge past this mark before retreating slightly once reaching it, where buying opportunities will be available for us traders looking to enter positions ahead of further movement upward. Support below near-term resistance lies at around $25 – if bulls cannot overcome this level, it may lead to a market pull-back.

UNI/USD 4-hour chart: UNI to attain $27.5 today?

On the 4-hour chart, Uniswap’s price continues to rise, implying that it will reach $28.5 later today.

Taking the 4-hour chart into consideration, we can see that Uniswap has formed a bullish trend today. This suggests that there is still room for growth, with $27.5 looking increasingly likely to be reached when considering recent price action in the market.

We’re looking for a decline to about $22.50, with support at around the $24 mark, which is where buying opportunities may present themselves for traders who placed bets before further growth to our objective of $28.5.

Uniswap Price Analysis: We anticipate UNI/USD to spike to $28 1
UNI/USD 4-hour chart. Source: TradingView

The price of Uniswap has been confined in a sideways range for the majority of the month. The following retracement resulted in a consolidation zone formed around $24-$26 that persisted until October.

On the 11th of October, when UNI/USD fell to a new swing low of $22.5, it initiated a further decline. The course reversed throughout the week, eventually reaching the $27 previous swing high.

On Saturday, a sharp sell-off sent UNI/USD futures crashing through $25.5, the first time it had fallen below $30 since July 5 of last year, resulting in consolidation during the night. Uniswap’s price has recovered its momentum today, surpassing the $27 previous resistance level. Overall, we expect UNI/USD to continue upward, reaching $28.5 within today’s session.

Uniswap Price Analysis: Conclusion 

The price of UNISWAP is currently higher, having increased by a significant amount earlier after a little decline overnight. As a result, we anticipate UNI/USD to continue gaining and targeting $28.5 soon.

Disclaimer. The information provided is not trading advice. 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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