Uniswap Price Analysis: UNI back at $20, what direction next?

TL;DR Breakdown Uniswap price analysis is bullish for today.UNI spiked to $18.3 overnight.Uniswap is likely to return above $21 today. Uniswap is in a bull market today, and the price analysis indicates that it’s going higher. The quick drop overnight resulted in a lower low set at $18.3, but considering that further downside was swiftly rejected, we anticipate UNI/USD to bounce back today and climb above the $21 support. Over the last 24 hours, the market as a whole has fallen by 2.85%, with Bitcoin declining by 2.85 % and Ethereum shedding 4.4%. Other top coins including Solana and Filecoin have seen worse declines. Uniswap price movement in the last 24 hours: Uniswap spikes to $18.3 UNI/USD traded in a range of $18.47 – $21.54, indicating significant volatility over the last 24 hours. Trading volume has decreased by 10.31% and totals $539.4 million, while the total market cap trades around $12.37 billion, ranking the coin in 13th place overall. UNI/USD 4-hour chart: UNI looking to return above $21 today? On the 4-hour chart, we can see the Uniswap price gaining momentum over the past hours as bulls want to push back above the $21 support. UNI/USD 4-hour chart. Source: TradingView Uniswap price action has seen a strong bearish momentum return this week. After an initial drop from the $31 high at the beginning of September, UNI/USD consolidated above $21 support. From there, a strong move higher took the market to the ...