Uniswap price prediction: Uniswap retests $37, set to reach $40 today

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Today’s Uniswap price prediction is bullish as the market pushed higher after retesting $37 resistance as support earlier today. Therefore, we expect UNI/USD to reach the $40 mark by the end of today.

Uniswap price prediction: Uniswap retests $37, set to reach $40 today 1
Cryptocurrency heat map. Source: Coin360

The crypto market continues gaining momentum after retracements were seen across the board earlier today. Over the last 24 hours, Bitcoin has remained relatively flat with a slight loss of 1 percent. Meanwhile, Ethereum is up by 4 percent as it continues pushing towards the $2,500 mark. From the major altcoins, the best performance is seen for Chainlink and Polkadot as they both are up around 13 percent. 

Uniswap price prediction: Uniswap retests $37, set to reach $40 today 

UNI/USD opened at $36.06 after consolidating around $34-$37 area for a day and pushing higher overnight. A new high was set around $39, from which a retracement was made to retest the $37 resistance as support. Since then the Uniswap price action has continued to move higher as bulls aim to finally reach the $40 target. 

Uniswap price movement in the last 24 hours

The UNI/USD price moved in a range of $33.80 – $39.52, indicating huge volatility for the market. 24-hour trading volume has increased by 28.69 percent and totals $1.346 billion. Meanwhile, the total market cap has reached $20.5 billion, ranking the cryptocurrency in 8th place overall.

UNI/USD 4-hour chart – UNI approaches the $40 mark

On the 4-hour chart, we can see UNI retesting $37 as a support and pushing higher over the past hours. Some resistance is currently seen, however, the current bullish Uniswap price momentum will likely take the market to the $40 mark later today.

Uniswap price prediction: Uniswap retests $37, set to reach $40 today
UNI/USD 4-hour chart. Source: TradingView

Overall, Uniswap has regained its bullish momentum over the past few days. After spending the end of March and the beginning of April consolidating in a slight uptrend around $28-$32, the market finally spiked higher on 12 of April. 

After less than 24 hours, the previous all-time high at $36.8 was broken as the market peaked at $38. From there, UNI/USD retraced to retest $34 suppport. Early yesterday the Uniswap price action briefly turned bullish again and moved towards $37, where bears took control again, resulting in another retest of $34 support. 

Late yesterday, UNI reversed again and started pushing higher. Previous resistance around $37 was broken without much hesitation, however, the previous high at $38 did slow the price action down. After a slight retracement earlier today to retest the previous $37 resistance as support, UNI moved higher. 

Over the past hours, another high at $39.6 was made, indicating that bulls are close to finally reaching the $40 mark. However, slight rejection for further upside has been made again. This likely means that UNI/USD will make another slight retracement over the upcoming hours, before the final push to the $40 mark is done later today or perhaps tomorrow.

If the $37 local support/resistance level is broken, we expect a much deeper retracement over the remaining week, with the $34 mark acting as the next major support level. From there, much depends on how the price will react.

Uniswap Price Prediction: Conclusion 

Uniswap price prediction is bullish as we have seen a continuation of bullish price action over the past hours after a brief retest of the $37 mark earlier today. Therefore, we should see UNI/USD reach the $40 mark by the end of today.

While waiting for further Uniswap price action development, see our long-term price predictions for Polkadot and Stellar lumens. To learn more about Ethereum, see our ETH gas price guide.

Source: cryptopolitan.com

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