If you think the price of the UNI/USD pair is going to soar over the course of a month or less, you should know that there are no guarantees in the Crypto markets, or any other markets for that matter.
UNI/USD almost touched the $23.5 price threshold at the end of last week, and that line-in-the-sand was quickly crossed in the following sessions. Even so, the pair continued to struggle to build a pole, and although it eventually made it above the $23.5 mark, it was quickly reset back down to the nearest cent. After trading in an area of a range between $22.1 and $23.1 for most of this week, UNI/USD finally ended on the higher side of the range, after it jumped to the $23.1 price level.
UNI/USD is preparing to dash against the $23.5 price hurdle. In the past few weeks, the US dollar has been enjoying a nice rise in price, but not everyone has been so kind. UNI/USD was one of the currencies that was dragged down by the dollar’s rise. Now, it’s time for UNI/USD to fight back.. Read more about tron price analysis and let us know what you think.
- At $23.5, the Bears are fighting an overhead resistance.
- The August high for the UNI/USD pair is $23.02.
- Uniswap, on the other hand, has risen by almost 45 percent in the three weeks from July 20th.
Uniswap Price Analysis: An Overview of Prices
The extended wick candlestick at the start of the month suggests the bears are defending an overhead resistance level of $23.5 without giving up too much territory, which is a bullish sign. Since the session began, the UNI/USD trading chart has formed a falling channel, with an intraday low of $20.624 on the 1-hour chart.
Despite the market’s bearish trend, a bullish crossing of the moving averages and strong RSI momentum indicate buyers are in charge, with a potential price increase to $23.45.
Price swings of the Uniswap coin are unpredictable, according to the market choppiness index. This means the price may rise as fast as it falls. The market is moving in both directions, indicating that there will be no clear direction in the next days.
Buyers are trying to establish a demand zone between $21 and $23, which will aid the currency in overcoming negative forces and the overhead price barrier. On the other side, sellers are continuously moving against the $20 support, which threatens to derail any expectations that purchasers have for keeping the coin’s price above this level. As a result, the price of Uniswap has returned to its late-July lows.
The price of Uniswap has changed in the past 24 hours.
The UNI/USD trading pair trades between $18.8 and $19.60, according to observations on the daily trading chart for our Uniswap price research. On Coinmarketcap, the current market capitalization is estimated to be about 190 million USD. Uniswap is now ranked tenth among the top ten cryptocurrencies.
The Uniswap Bears are trying to break through the $20 support level and build resistance around the $19.55 20-day exponential moving average. In the meanwhile, the bulls may strengthen the exponential moving average and break free of the overhead barrier by recovering from the 1-hour fall near $20.
TradingView is the source of this information.
4-hour chart of the UNI/USD:
The August high for Uniswap is $23.02. On the 5-day chart, we can observe that the price of Uniswap has been losing momentum in recent days. Nonetheless, the 4-hour chart suggests a possible rebound around $21 and a break out of today’s intraday high of $22.74.
Since July 20th, however, the cryptocurrency has risen by almost 45 percent in the last three weeks. The robust rebound, which was the first sign of any recovery after May’s market collapse, suggests the negative trend may be coming to an end shortly.
Uniswap is now trading at $21 per US dollar at the time of writing.
Conclusion of the Uniswap pricing study
Following a big rise earlier this week, additional upward momentum has progressively moderated, making Uniswap price analysis optimistic in the future days. As a result, the UNI/USD pair is expected to retrace slightly lower before gaining momentum and retesting levels above the overhead barrier.
Disclaimer: The material on this website is not intended to be trading advice, and.com assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.
It’s anyone’s guess what the price of a United States dollar will be in a few weeks, but one thing is clear: there won’t be many people who are surprised. Since the UNI/USD pair started trading in 2014, its volatility has been nothing short of impressive, as the dollar rose from $0.50 to $1.50 in under two years, underperforming every major currency by a factor of 10 or more: A few months ago, the dollar was trading at a price of $23.5, and the pair had lost over 80% of its value. There are many reasons why the dollar has been so weak, but they have nothing to do with the fundamental health of the US economy.. Read more about what is uniswap and let us know what you think.
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- uni/usd prepares to dash against the $23.5 price hurdle for a