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Uniswap price analysis: UNI prices plummet to $4.71 as selling activity intensifies

Uniswap price analysis
TL;DR Breakdown
  • Uniswap price analysis shows a bearish trend
  • Support for Uniswap prices is present at $4.63
  • Uniswap price has declined by 5.56 percent

Uniswap price analysis shows the market has been trading in a downtrend for the last 24 hours, with the price falling from $5,0 to its current level of $4,71. The market is currently facing resistance at the $5.0 level, and a further decline is expected if this level is not broken. The overall market sentiment for UNI is bearish, as the market has been in a downtrend for the last few days. The market is expected to continue its downward trend in the short term, with prices potentially reaching the $4.50 level.

Uniswap price action on a daily chart: Bearish trend continues

Uniswap price analysis shows that the market has been in a downtrend since the beginning of the week, with prices falling from a high of $8.40 to their current level of $4.71. The market is expected to continue its downward trend in the short term, with prices potentially reaching the $4.50 level. The trading volume is currently at $$230,790,712.56 while the market capitalization is at $2,791,281,783.48.

image 533
UNI/USD 1-day price chart, source: TradingView

The market volatility is seen to be starting to decline as the Bollinger bands are starting to close in on the candlesticks. This indicates that the market is starting to enter a period of consolidation. The RSI is currently at 40.8, which shows that the market is currently oversold. However, the Stochastic RSI is still showing some bullish momentum, as it has not yet reached the overbought region.

The MACD is currently in the bearish zone, as the 12-day EMA is above the 26-day EMA. The MACD line is also below the signal line, indicating that the bearish trend is likely to continue in the short term.

Uniswap price analysis on a 4-hour price chart: UNI prices reach oversold levels

Uniswap price analysis indicates a downtrend as the prices look to test the $4.63 support level. The prices are trading along the moving averages lines with the 50 SMA line above the 200 SMA line. This is a sign that the downtrend is likely to continue in the short term. The RSI is currently at 33.6, which indicates that the market is oversold and a rebound may occur soon.

image 534
UNI/USD 4-hour price chart, source: TradingView

The MACD is currently residing on the bearish side, as the 12-hour EMA is above the 26-hour EMA line. The Bollinger bands are starting to widen, which is an indication that the market may be about to enter a period of consolidation.

Uniswap price analysis conclusion

Uniswap price analysis indicates the current market is likely to continue its downward trend in the short term as the market has not yet found any significant support levels. The market is expected to find some support at the $4.63 level, but a further decline is possible if this level is breached.

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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