Uniswap Price Analysis: UNI retests previous low at $21 and rejects further declines below $20

TL;DR Breakdown For today, the Uniswap price analysis is positive.The UNI/USD pair has retested the previous low today.UNI is rejecting further downside around $22. The UNIS/USD pair is currently in a bull trap, having retraced to test and reject the previous low for additional losses. As a result, we anticipate that UNI/USD will rally higher over the next 24 hours and attempt to recoup even more of last week’s decline. Cryptocurrency heat map. Source: Coin360 The market as a whole was in the red for the last 24 hours. Bitcoin has dropped by 6.29 percent, whereas Ethereum has shed 6.79 percent. Solana (SOL) is one of the worst performers, losing more than 10% of its value. Uniswap price movement in the last 24 hours: Uniswap retests previous low above $21 The price of UNI/USD was in a range of $19 – $21 over the course of the last 24 hours, indicating little volatility over that time period. Trading volume has decreased by 21.07 percent and totals $522.64 billion, while the overall market capitalization is about $13.51 billion. UNI/USD 4-hour chart: UNI to rally overnight? We can see the UNI/USD price rejecting even more declines on the 4-hour Uniswap price analysis chart, suggesting that bulls are getting ready to make another advance. UNI/USD 4-hour chart Source: TradingView Over the previous week, the Uniswap price reflected a lot of volatility. UNI/USD could not rise further after establishing a high at $31 and sub...