- Uniswap price undergoes pullbacks after the altcoin printed a swing high near $18.77.
- The correction may bounce off the support zone at $17.62, triggering a 30% surge to $23.05.
- Meanwhile, a lower low under $15 will cancel the bullish case for UNI.
Uniswap price maintained gradual uptrends over the past sessions. Such moves came as the cryptocurrency industry recovered from the massive sell-off seen on 4 December. The latest upswing indicates that UNI might see a fast correction before catalyzing a sturdy rally.
UNI Price Ready for Higher Highs
The previous two days had Uniswap price rising by 23%, setting a swing high near $18.77. This surge was gradual and encountered selling momentum, though Uniswap bulls persisted. For now, Uniswap price hovers at $18.45. Meanwhile, the alternative coin has chances to retrace towards the closest support level near $17.62 before kick-starting an upsurge.
If UNI holds this support area, buyers may come back, triggering a run towards $21.86. Such a move will mean a 23% climb. Sustained or increased buying momentum might allow Uniswap to overcome this level and revisit the resistance level at $23.05, translating to a 30% upsurge.
As the overall cryptocurrency space print a bullish outlook, Uniswap has a high probability of attaining its optimistic price targets.
As everything appears optimistic for UNI price, breaching beneath the support level at $17.62 will show sellers overwhelming buyers. Such scenarios can see UNI experiencing a fatal plunge.
If UNI price actions translate to a swing low beneath $15.17, the alt will form a lower low, overturning the above bullish narrative.
For now, Uniswap appears to mimic the overall crypto market actions, recovering the latest plummet gradually. That had analysts predicting a 30% upsurge for the alt. Nevertheless, broad market support is essential for UNI to hit its targets.
If the incoming sessions display dependable bullish momentum in the crypto market, altcoin, including UNI, will surge to touch their targets. However, further drops in the crypto space can see Uniswap losing its critical price barriers, plummeting to ruin its bullish outlook.
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