UNI/USD Price Prediction: UNI set to break above the intraday highs of $26

Summary

• Today’s UNI/USD price analysis is bearish.
• Over the last 24 hours, UNI/USD has retraced to $24.
• UNI/USD is trading at $25.

The daily chart shows that there are sellers on the market at $25. If our prediction is correct, then it’s likely that Uniswap will drop to the lows of $23. The market has been bearish, so we expect this support level to be breached.

Today’s UNI/USD price prediction is bearish. Over the last 24 hours, UNI/USD has retraced to $24. Next support at $23. The price of Uniswap is presently being tracked by a retest of the prior resistance level, which was $25 last night. As a result, we anticipate that bearish momentum will grow later today as a new lower high is established around $25. The coin is getting close to the $23 trendline. Currently, there are plenty of sellers at $24. If this level isn’t defended, the price of Uniswap could slip further down to the next support at $23.

The hourly chart below shows that the price of UNI has slipped down to $24. We expect this support level to be breached, which will activate the next support at $23. The daily chart below shows that there are sellers on the market at $25. If our prediction is correct, then it’s likely that Uniswap will drop to the lows of $23. The market has been bearish, so we expect this support level to be breached. Lastly, our last analysis was bullish. We have yet to see a bullish reversal take place as the market continues to fall into a deeper bearish state once again.

According to CoinMarketCap, Uniswap is currently trading at $25.1. The bulls seem to be gaining momentum.

4-hour Uniswap price chart: UNI to continue higher?

UNI/USD 4-hour chart. Source: TradingView

The UNI/USD pair fell below $24 on the 4-hour chart, implying that it has broken support at $25. This support level will be breached, signaling the start of new support at $23.

As previously mentioned, bearish momentum will increase later today as a new lower high is established around $25. The cryptocurrency is close to the $23 trendline.

The $23 mark, which was previously resistance, has become a strong support level, and it should offer further price stability. It is presently priced at about $24. The previous high was $25.94.

UNI/USD is in a strong uptrend, but the market has begun approaching the $23 support level, previously resistance. This implies that there will be no significant price movement until after these two markets have interacted with each other at this crucial point. UNI will most likely perform another retest of the $26 resistance level since the $25 level is still above the current market price.

For now, we can expect Uniswap to continue higher as long as it manages to stay above $24 and the trading volume increases. As far as bearish momentum goes, we expect a drop to $23 and possibly lower. The next major support level will be close to $22, as shown in the hourly chart.

UNI/USD Price Prediction: Conclusion 

The UNI/USD pair fell below $24 on the hourly chart, implying that it has broken support at $25. This support level will be breached, signaling the start of new support at $23. As previously mentioned, bearish momentum will increase later today as a new lower high is established around $25. The cryptocurrency is close to the $23 trendline; if this resistance level isn’t defended, the price of Uniswap could slip further down to the next support at $23.

Read the previous Uniswap price prediction piece.