Uniswap , the cryptocurrency exchange that offers 0% fees on trading and 0.5% fees on deposits and withdrawals, has been around for a while now. And while the exchange has been plagued by several issues over the past couple of months, it appears to be holding steady at around $15-$16. The question is, can UNI break through the $30 mark and create a buy zone?
The Uniswap token has been on an upward trajectory since our last update. UNI hit an all-time high of $26.56 at the beginning of June, and has continued to climb on a wave of strong support around this price point. We expect this upward trend to continue, and for the token to break the $30 mark soon.
Uniswap is a decentralized cryptocurrency swap. It uses a novel decentralized blockchain swap protocol, which replaces the centralized swap services usually offered by exchanges. Uniswap is built on top of the Uniswap network, which is a network of independent nodes that are interconnected and can share all their information. In this way, Uniswap tokens can be traded between users without the need for any central third party.
- Overnight, UNI retraced its steps.
- Around the $25.5 point, support was discovered.
- Next up for Uniswap is a test of the $30 mark.
The Uniswap price analysis for today is optimistic, as the market began to recover after making a higher bottom around the $25.5 level overnight. As a result, we anticipate UNI/USD to push through the $30 barrier and break over the previous swing high.
Heat map of cryptocurrencies. Coin360 is the source of this information.
Over the past 24 hours, the cryptocurrency market has had mixed outcomes. Bitcoin, the market leader, has gained 2.3 percent, while Ethereum has gained 0.4 percent. The price behavior of the rest of the major cryptocurrencies is similar, with minimal volatility.
Uniswap price movement in the past 24 hours: Uniswap reaches a new high around $25.5.
Over the past 24 hours, the UNI/USD has moved in a range of $25.40 to $28.33, showing moderate volatility. Trading volume has risen by 6.83 percent to $546.8 billion, while total market capitalization is about $4.66 billion, giving the stock a market rank of tenth.
UNI/USD 4-hour chart: Is UNI about to break over $30 resistance?
The Uniswap price is beginning to rise again on the 4-hour chart after a higher bottom was made, at $25.5.
4-hour chart of the UNI/USD currency pair. TradingView is the source of this information.
Over the last several weeks, the Uniswap price has been moving with a very strong bullish momentum. UNI/USD began to quickly rise after a short retest of the last major swing low around $14 on July 20th, then broke through the previous swing high at $23.5 on August 5th.
Last week, the Uniswap price continued to rise from the $23,5 barrier level, reaching the $29 mark on August 7th. Further gains could not be achieved yesterday, and the market began to retreat. Overnight, support was established around the $25.5 level, and additional fall was refused.
This market movement resulted in a new higher low being established, propelling UNI/USD to another rise early today. Over the next 24 hours, Uniswap is anticipated to continue to rise, with the $30 mark serving as the next significant barrier level.
Conclusion of the Uniswap Price Analysis
As a new higher bottom was established overnight around the $25.5 level, Uniswap pricing research suggests bullish momentum will continue over the next 24 hours. UNI/USD began rallying again earlier today and is already approaching the previous swing high, indicating that UNI will continue to rise over the next 24 hours.
Read our articles on Bitcoin Futures, Physical Bitcoin, and Proof of Stake versus Proof of Work while you wait for Litecoin to go forward.
Disclaimer. The information given is not intended to be used as trading advice. .com is not responsible for any investments made as a result of the information on this website. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.
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