Uniswap Price Analysis: UNI retests $25 support, prepares for a rally?

TL;DR Breakdown Uniswap price analysis is bullish for today.UNI/USD retests the $25 support overnight.UNI is set to advance later today. Uniswap price analysis is bullish today as the market has formed a double bottom above the $25 support level. Therefore, we expect UNI/USD to reverse later today and start moving back to the $0.30 previous highs later this week. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded with mixed results over the last 24 hours. Bitcoin trades with a 0.2 percent loss, while Ethereum with a 1.15 percent loss. Cardano (ADA) is among the best performers, with a gain of 5 percent. Uniswap price movement in the last 24 hours: Uniswap continues to consolidate above the $25 support UNI/USD traded in a range of $25.33 – $27.33, indicating a moderate amount of volatility over the last 24 hours. Trading volume has decreased by 38.59 percent and totals $516 billion, while the total market capitalization trades at $15.66 billion, ranking the cryptocurrency in 11th place overall. UNI/USD 4-hour chart: UNI set for a rally? On the 4-hour chart, we can see the Uniswap price action still respecting the $25 support, which should lead to a reversal later this week. UNI/USD 4-hour chart. Source: TradingView Uniswap price action has traded with a strong bullish momentum over the last month. After retesting the $14 previous low on the 20th of July, UNI/USD started to rapidly advance and h...