- The price levels are showing a slight recovery after a bearish momentum.
- Uniswap price analysis shows, value has increased up to $26 in the last hour.
- Price is soon to break past the resistance present at $26.
The Uniswap price analysis is showcasing a small comeback from the bullish side today. Although the bearish momentum has been very strong since the past week, today bulls have succeeded in making a considerable difference. The coin value has improved up to $26.01 and is a positive indication for cryptocurrency after a long bearish trend. The past few hours have experienced a bullish comeback, which resulted in slowing down the downward slope on the chart.
UNI/USD 1-day price chart: Bears cause price to flow downwards after bullish move
The 1-day price chart is showing a decrease in the price value, and the momentum has been considerable enough. The bears have continued to maintain their lead, and have caused a further decline in the coin value up to $26.
The moving average (MA) in the 1-day price chart is $28, comparatively at a higher level than the current price. Overall, the trends have been highly bearish, as the past days have observed a crossover of SMA 50 over SMA 20.
The Bollinger bands hold vital importance in determining the future trends and are currently averaged out at $28. The upper Bollinger band is soon to go above $30.8 and the lower band is to go below its current position i.e. $26 as the volatility is increasing. The Relative Strength Index is also showing a low score because of bearish supremacy and is at 49 at present.
Uniswap price analysis: Bulls take down the escalating bearish pressure
The 4-hours Uniswap price analysis is showing support for the bulls, as they have been able to break through the continuing bearish trend. The bulls have taken the price to $26, and have made a major comeback. The day has mostly observed a bearish trend, yet the current hour has been supportive of the bullish side. It can be predicted that the coin value will eventually surpass the moving average value i.e. $26.5.
The long-term trending line is going downwards because the week has been dominated by the bears. The volatility is increasing which is a negative signal for cryptocurrency, and the upper Bollinger band has reached $29.73 while the lower band has reached $25.1. The RSI score is gradually improving as well and will find its way above its current value i.e. 38.
The competition between the buying and the selling parties has been strong, which is why the UNI/USD technical indicators chart is showing a neutral signal. From the total 26 indicators, 10 are present at the neutral side, seven at the buying side while nine are found at the selling side.
The Oscillators are showing similar results, with nine oscillators being present at the neutral position, and one oscillator at the selling and buying positions each. The Moving Averages is showing the general trends observed during the week, and are at selling signal. There are eight indicators at the selling position, six at the buying position while only one indicator is at the neutral position.
Uniswap price analysis conclusion
From the above 1-day and 4-hours Uniswap price analyses, it can be inferred that the price is moving towards a very slow recovery. The latest updates are showing that the bullish momentum is slowly building up, overcoming the prolonged bearish trend.
Yet, the bullish momentum is not strong enough to sweep past the bears, and the price has only increased to $26.1. The resistance present at $27.1 can only be overcome, if more buyers approach the market in the future.
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