UNI / USD has seen a choppy short-term trading surge and is currently near significant resistance levels.
After having touched a low of almost 21,200,000,000 on September 13, UNI / USD was able to climb to a high of almost 26,000,000,000 in early trading this morning. However, after touching this important juncture, the UNI / USD has seen a slight sell emerge and is now breaking through the $ 25.00 mark. The resistance near the $ 26.00 mark is technically significant. From August 5 to September 7, UNI / USD traversed a range between 26.00000000 and 31.45000000 quite consistently.
The market for cryptocurrencies in general has had a session of trading slightly positive last day and this has been correlated within Uniswap. Like the other major digital assets, UNI / USD fell to a major low on July 20 with a value of nearly $ 14.00 tested. The trend The bullish from the third week of July marched in formation and UNI / USD touched a high of approximately 31.45000000 on September 1.
Uniswap is the 11th largest cryptocurrency through its market capitalization ranking with close to $ 15.3 trillion in value. Technical traders will want to keep their eyes on the 26.00000000 mark as resistance in the short term, if this level is able to be penetrated higher it could mean a potentially strong wave of short term buying. Nonetheless, the jittery sentiment has been evident in the broad cryptocurrency market and speculators will want to keep their eyes on Uniswap’s major counterparties as well.
The medium The short term near the levels of 24.50000000 to 24.16000000 should be watched carefully. If these coordinates falter and penetrate below, this could indicate that the selling momentum in the UNI / USD is more of a hazard. While a low of almost 21,200,000,000 was experienced yesterday and held, if this lower value is seriously challenged, the untested support levels from late July and early August could be the target.
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Uniswap has enjoyed a major run to bullish since the third week of July, but its early September highs did not challenge the all-time marks within UNI / USD that occurred in early May when the cryptocurrency traded above $ 45.00. Traders who remain bullish on UNI / USD may want to remain cautious until the 26.00000000 mark above proves vulnerable, until then traders they may actually try to sell Uniswap on slightly higher pullbacks that do not break current resistance levels.
Uniswap Short Term Forecast:
- Current Resistance: 26.10000000
- Current Support: 24.16000000
- High Target: 28.20000000
- Low Target: 21.09000000