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Uniswap price analysis: Bears retain lead as downswing brings price to $22.00

Uniswap price analysis Bears retain lead as downswing brings price to

TL;DR Breakdown

  • Price has decreased up to $22.00.
  • Uniswap price analysis shows downtrend.
  • Support at $23.202 is overcrossed.

The bears are leading the game as the price has followed the downward movement in the last 24 hours. The bearish pressure has been increasing for the past few weeks, and today a decreasing trend is also being recorded. The price has decreased quite significantly, and the cryptocurrency value is now $22.00. The bears have brought the price below the support level as well, which is an alarming sign.

UNI/USD 1-day price chart: Bearish slide degrades coin value to $22.00

The one-day Uniswap price analysis confirms a major downswing for the day, as the bears have taken over the market again. The bears have been ruling the price charts for the past few weeks, and even today, a drop in price is being observed. The price declined on a significant level during the day and has moved down to the $22.00 limit. The moving average (MA) value is on a relatively higher level, i.e., $24.79.

Uniswap price analysis: Bears retain lead as downswing brings price to $22.00 1
UNI/USD 1-day price chart. Source: TradingView

The SMA 50 curve is traveling above the SMA 20 curve which is yet another bearish indication. The increase in volatility has changed the upper Bollinger band value to $27.21 and the lower Bollinger band value to $23.20. The Relative Strength Index (RSI) score is quite near to the underbought limit and is currently standing at 33.07.

Uniswap price analysis: Price takes an upturn to $22 raising chances of recovery

The four hours Uniswap price analysis is showing promising results today as the price has followed an increasing trend. Although the bearish trend was at its peak in the previous hours, a rise in price was observed in the last four hours. This is increasing the chances of recovery for the bulls as the price has returned to its former height i.e. $22.00. If we talk about the moving average value in the one-day price chart, then it is at the $23.36 mark.

Uniswap price analysis: Bears retain lead as downswing brings price to $22.00 2
UNI/USD 4-hours price chart. Source: TradingView

The increasing volatility is not a good sign as further downtrends might follow in the approaching hours. The Bollinger Bands Indicator is dictating a change in its values as well as now the upper value is $26.01 whereas the lower value is $22.00. The RSI score is now below the underbought limit and has moved down to 26.01.

Uniswap price analysis: Bears retain lead as downswing brings price to $22.00 3
UNI/USD technical indicators chart. Source: TradingView

The price has been following a negative trend for the past few months and a decreasing tendency has been observed. This is why the technical indicators chart for UNI/USD is giving out a strong selling signal. There are 16 indicators present on the selling position, nine indicators are present on the neutral position while only one indicator is on the buying position.

The Moving Averages Indicator is confirming the significant drop in price as well with a strong bearish signal. We can see 14 indicators standing on the selling side, one indicator is on the neutral side while zero indicators are on the buying side. The Oscillators are showing a neutral trend for the day, with eight indicators on the neutral spot, two indicators on the selling spot, and one indicator on the buying spot.

Uniswap price analysis conclusion

The one-day and four hours Uniswap price analysis is confirming a downward trend for the day as a substantial amount of price drop has been detected. The price has moved down to the $22.00 level after the continuous bearish pressure. The hourly prediction is showing relatively positive results as bulls have made a comeback in the last four hours.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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Arnold Kirimi

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

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