Uniswap Price Analysis — February 28UNI has traded in an overall bullish pattern over the past four days but continues to stall around the psychological $10.00 mark as the broader market regains upward mobility.
The cryptocurrency rebounded sharply a few hours after the Russian invasion announcement by Putin last week, which saw the entire crypto market shed hundreds of billions of dollars within a short period. Unlike most other coins, UNI did not stay subdued long following Thursday’s sell-off and had rallied by over 30% ever since.
That said, a clean break above the $10.00 mark over the coming hours should help UNI attack the critical $11.00 resistance, where my descending trendline resides. With a rich macroeconomic data docket for the week, I expect to see some fiery price action in UNI this week.
Meanwhile, my resistance levels are $11.00, $12.00, and $13.00, and my support levels are $9.00, $8.00, and $7.00.
Total Market Capitalization: $1.79 trillion
Uniswap Market Capitalization: $6.88 billion
Uniswap Dominance: 0.38%
Market Rank: #22
