Uniswap Price Analysis: UNI retraces to $25, set to regain some of the loss today?

TL;DR Breakdown Uniswap price analysis is bullish today.UNI/USD saw a sharp decline overnight.UNI found support above the $25 mark. Uniswap price analysis is bullish today as the market started rejecting further downside after a rapid move to the $25 mark overnight. Therefore, UNI/USD has likely set another higher low and prepares to move higher from there. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded in the red over the last 24 hours. The market leader, Bitcoin, has lost 1.53 percent, while Ethereum is down by 4.41 percent. Solana (SOL) is still among the best performers, with a gain of 16.46 percent. Uniswap price movement in the last 24 hours: Uniswap saw a quick spike to $25 UNI/USD traded in a range of $25.52 – $29.85, indicating substantial volatility over the last 24 hours. Trading volume has increased by 60.28 percent and totals $843.7 billion. Meanwhile, the total market capitalization trades around $4.73 billion, ranking the coin in 11th place overall. UNI/USD 4-hour chart: UNI prepares to reverse? On the 4-hour chart, we can see the Uniswap price rejecting further downside as bulls prepare to take over the market momentum. UNI/USD 4-hour chart. Source: TradingView Uniswap price action has seen strong bullish momentum over the past month. After retesting the previous swing low at $14, UNI/USD started to rally and since then has gained 120 percent to the current high of $31. Howe...