Uniswap opens daily chart to analyze rice on a bullish pulse. The buyers outperformed the sellers in the market causing the price to rise and forming some bullish trends on the $26.4 domestic day. Vendors have consolidated power that causes strong opposition at high intrada levels. This resistance caused the price of the UNI/USD pair to start falling. Prices fell with a falling wedge to daily lows of USD 25.2.
The cryptocurrency market has been trading green for 24 hours. Market leaders Bitcoin and Ethereum experienced surges with gains of 3.0 and 3.08, respectively.
The general cryptocurrency market is bullish as can be seen from the heatmap. BTC, the most popular digital currency, is up 0.88 percent and is trading at just under $48,000, while the second-largest digital asset also jumped 1 percent and is currently trading at $3.5k.
As the market continues to strengthen, there are signs that altcoins are also gaining momentum. FTT is the hottest win on a cryptocurrency hot card, up more than 20 percent in appreciation. Uniswap traded in the opposite direction, down 2%.
Uniswap price movement in the last 24 hours
UNI/USD is trading in the $25.46 – $26.54 range, which has shown significant volatility over the last 24 hours. Trading volume fell 6 percent to a total of $660 million, while the total market cap traded around $16.52 billion, placing the coin at number 11 overall.
Uniswap prices have increased significantly in the past month. UNI/USD is up more than 150 percent from the $12.5 support level, while resistance hit around $29.
UNI/USD traded below USD 29 for several days before falling sharply on Tuesday. Support opened above USD 25 for the first time, but further losses were noted yesterday when Uniswap prices fell to USD 24.5.
The UNI/USD pair fell overnight, but the long-term trend remains intact as it shows resistance to bad news and a quick rebound from the bearish trend. Today we expect UNI to rise again and return above the previous level of $29.
The trend line break indicates that Uniswap is in upward momentum and seems to be gaining momentum as the market started to advance earlier today, after yesterday’s further decline. As a result, we expect UNI/USD to recover more from its losses and return to the previous high of USD 29.
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