Uniswap price prediction: UNI prepares to move higher, next target at $38

Sunday 07 March 2021, 7:08 PM AEST - 1 month ago

Uniswap price predictionUniswap price prediction: UNI prepares to move higher, next target at $38 19

TL;DR Breakdown

  • UNI found support at $32.
  • Closest resistance at $35.
  • 50 and 100 MA`s provide additional resistance.

Todays Uniswap price prediction is bullish as the market rejected further downside yesterday after several days of bearish momentum.

Cryptocurrency heat map. Source: Coin360

The overall market is pushing higher today. Market leaders Bitcoin and Ethereum are up by 6-7 percent and will likely continue higher later today. One of the best performers is VeChain (VET), with a gain of almost 14 percent so far.

UNI/USD opened at $33.36 today after a very inactive trading session yesterday. Uniswap did reject further downside on Friday as well, indicating that the market is preparing to rally and move towards the next resistance around $38.

Uniswap price movement in the last 24 hours

The UNI/USD price action has seen moderate volatility with a 24-hour range of $32.18 – $34.42. Trading volume has decreased by 35 percent compared to the previous 24 hours and totals $1,544 million. Market cap stands at $31.4 billion, resulting in a market rank of 6th place.

UNI/USD 4-hour chart – ready to break above $35?

On the 4-hour chart, we can see that Uniswap currently trades just below the previous resistance at $35. Both the 50 and 100 period moving averages provide additional resistance. Therefore, if Uniswap can break above these resistances, we should see further highs next week with the first upside target being the $38 mark.

Overall, Uniswap price has traded in a very strong bullish momentum for the past months. Several higher highs have been followed by higher lows in a continuous move higher since the beginning of this year.

After peaking at the $42 mark on the 20th of February, UNI ...

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