Uniswap Price Analysis: UNI approaches the $35 support, will it hold?

TL;DR Breakdown Uniswap price analysis is bearish for today.UNI/USD continued to decline overnight.Closest support at $25. Uniswap price analysis is bearish for today, as the market pivoted after reaching the $27.5 mark over the weekend and returned below the $27 mark. Therefore, we expect bearish momentum to continue later today and lead UNI/USD towards a retest of the $25 mark next. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded with mixed results over the last 24 hours, with the market leader, Bitcoin, down 1.15 percent. Meanwhile, Ethereum has gained 1.51 percent, and Solana (SOL) is the best performer, with a gain of 16.27 percent. Uniswap price movement in the last 24 hours: Uniswap continued to decline UNI/USD traded in a range of $25.64 – $27.10, indicating mild volatility over the last 24 hours. Trading volume has decreased by 11.72 percent and totals $251.37 billion, while the total market capitalization trades around $16 billion, ranking the coin in 11th place overall. UNI/USD 4-hour chart: UNI moves to retest the $25 support? On the 4-hour chart, we can see the Uniswap price declining over the last 24 hours as bears target the $25 support next. UNI/USD 4-hour chart. Source: TradingView Uniswap price action saw a strong increase over the past month. However, after setting a new higher high at the $31 mark, bulls were finally exhausted, and a sharp decline followed on the 17th of...