Uniswap price analysis: UNI declines to $11.6

UNI

TL;DR Breakdown

  • Unieswap price analysis is bearish today
  • The strongest resistance is present at $19.
  • Uniswap trades at $11.6 as of now.

Uniswap price analysis reveals that the market is currently following a massive downwards trend below the $12 mark and is likely to decline even further. UNI/USD continued to significantly decline following its fall to the $14.5 mark on January 21, 2022, where the price went from $14.6 to $12.3. However, the cryptocurrency continued to decline today on January 21, 2022, showing solid bearish momentum; currently, the price of UNI is available at $11.6. Uniswap is down 18.05% in the last 24 hours with a trading volume of $448,166,164.

UNI/USD 4-hour price analysis: Support almost breaks

The Uniswap price analysis indicates that market volatility follows a significantly increasing trend, making Uniswap prices more vulnerable to volatile changes on either extreme. The upper limit of the Bollinger’s band is available at $17.1, which acts as the most substantial resistance for UNI. The lower limit for the Bollinger’s band is available at $11.6, which serves as another point of resistance rather than support for UNI.

The UNI/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish trend. Furthermore, the UNI/USD price path seems to be moving downwards, just entering the support region after breaking out the previous day.

Uniswap price analysis: UNI declines to $11.6 1
UNI/USD 4-hour price chart source: TradingView

The Uniswap price analysis reveals that the Relative Strength Index (RSI) is 22, meaning UNI/USD is oversold and falls in the undervalued region. The RSI score appears to be following an upwards movement signifying an increasing market trend towards stability. The RSI score increases because the buying activity gains momentum over the selling activity.

Uniswap Price Analysis for 1-day: UNI/USD suffers devaluation

According to the Uniswap price analysis, market volatility follows a trend in incline, which means Uniswap prices are becoming more vulnerable to volatile changes. The upper limit of the Bollinger’s band is available at $19, which acts as the strongest resistance for UNI. Conversely, the lower limit for the Bollinger’s band is available at $12.5, which serves as another point of resistance rather than support for UNI.

The UNI/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish trend. The UNI/USD price path seems to be moving well below the curve of the Moving Average, signifying a strong bearish momentum. The price path traces a downwards movement that has broken the support of the market, causing a breakout, which might reverse the market trend.

Uniswap price analysis: UNI declines to $11.6 2
UNI/USD 1-day price chart source: TradingView

The Uniswap price analysis reveals that the Relative Strength Index (RSI) is 31, signifying the cryptocurrency entering the undervalued domain. Furthermore, the RSI appears to be following a downwards path indicating further depreciation and the dedication of the bears, and the price may soon fall under the threshold and further devalue the cryptocurrency. This also signifies that the selling activity is dominant in the market.

Uniswap Price Analysis Conclusion

In conclusion, the Uniswap price analysis deduces that the bears are currently controlling the market, but the bulls are trying hard for a comeback. A reverse trend is probable as the RSI score drops to the threshold. UNI/USD might undergo a significant incline in the coming days. The cryptocurrency has displayed a solid bearish movement in the past few days. Still, finally, the figures and observations from the charts show us some hope for the cryptocurrency to bounce back and raise the value. A reversal is imminent

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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