Uniswap Price Analysis: Bulls to reverse the bearish trend soon

Chainlink price analysis

TL;DR Breakdown

  • Uniswap price analysis is bearish today.
  • The strongest resistance is present at $19.789.
  • UNI/USD is presently at $16.15.

The Uniswap price analysis predicts a significant downward trend below $17 and that it will continue. Following its peak at $20 on January 5, 2022, when the price fluctuated from $18.08 to $19.83, it plummeted dramatically. Rather than keeping its value, though, the price plummeted far below $17.

UNI/USD is currently trading at around $16.15, a significant decrease from the price at its peak. The fact that it fell so dramatically from $19.83 to $16.15 means its vulnerability to drop even further, highly likely, just as predicted by today’s Uniswap price analysis.

Since then, UNI/USD has not recovered and climbed back up above $17 again. Presently, no signals indicate a rise above this level could happen any time soon. There are clear signs of a series of lower highs and lower lows developing across the graph, indicating an upcoming downward trend.

This Uniswap price analysis predicts that the support at $17 will be broken, and UNI/USD will continue to fall. But, this downward trend is expected to bottom out around $15.5, where buying pressure might intervene before any further declines.

On the other hand, if no interruption happens between now and then, it’s predicted that UNI/USD will reach lower lows around $14, where another strong resistance presents itself. This adds up with the expectation of the Uniswap price analysis for today, suggesting some bullish movements are possible near term, which could push prices back up towards $18 again before being pushed further down by bears.

UNI/USD 4-hour price analysis: Slight bullish signals

The price of Uniswap is susceptible to significant fluctuations, as seen in the USDC/ETH pair. The Bollinger band’s upper limit is set at $19.78, suggesting resistance. The lower boundary of the Bollinger band is set at $16.824, which acts as a barrier against downward movement rather than offering support.

Uniswap Price Analysis: Bulls to reverse the bearish trend soon 1

UNI/USD 4-hour price chart source: Trading view

The Uniswap price study reveals that the Relative Strength Index (RSI) is 39, suggesting UNI/USD is neither overvalued nor undervalued. The RSI may be used to indicate an improving market trend and a possible recovery after a rise in which the market trend extends.

The UNI/USD pair appears to be breaking out of the Bollinger Bands’ lower limit, which signals a market breakout. This implies that the chance of a price reversal has increased significantly.

When the UNI/USD exchange rate goes below the curve of the Moving Average, it is a sign that a bearish trend is in effect. Bears currently dominate the market, but uncertainty has sky-rocketed recently, suggesting that the trend could be reversed at any moment.

Uniswap Price Analysis: Conclusion

We can see that the bears have reclaimed market dominance from Uniswap’s price movement. If this persists, Uniswap may experience a more substantial drop than it has already. Uniswap has had a tumultuous bearish trend with significant swings in recent days, suggesting that the bulls must up their game if they want to regain momentum and raise the price of Uniswap. The bulls still have the upper hand, but a trend reversal is expected based on all market information.

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.

Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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