- Price experienced a fall up to $10.97.
- Uniswap price analysis shows downtrend.
- Support is still fixed at $7.82 extreme.
The latest Uniswap price analysis shows a strong downtrend for the cryptocurrency today, as the coin value underwent a noticeable reduction. The ongoing decreasing trend has lowered the cryptocurrency value to a $10.97 low. Although the bulls dominated the market in the last week, the bears have been trying to secure the winning position for the past few days. It is expected that the bearish trend will aggravate further in the upcoming week.
UNI/USD 1-day price chart: Coin value demotes to $10.97 after bearish rush
The daily Uniswap price analysis predicts a downward trend for the market, as strong selling pressure was observed during the day. The price curve shows a downward slope due to the ongoing bearish wave. Red candlesticks are marking bearish supremacy, and the price moved down to $10.97 low in the past 24-hours. Although the bulls controlled the market earlier, the current trend is relatively bearish. The price is still higher than the moving average (MA) value, i.e., $10.890.
The short-term trending line is expected to move descendingly if the current trend resumes in the future. The upper extreme of the Bollinger Bands Indicator is standing at $17.817 point, whereas the lower extreme is standing at $7.818 edge. The Relative Strength Index (RSI) score has dropped up to 36.90 due to the latest downturn in price.
Uniswap price analysis: Bearish wave continues as price further downgrades to $10.97
The bears are again occupying the leading position on the hourly price chart, as the price followed a downward movement in the past four hours. Although there have been constant variations in the price trends over the past few hours, the bears are currently winning the game. The coin value has been devalued to $10.970 as the bears have made a successful comeback. However, the moving average value is at a much greater height, i.e., $11.178.
A cross-over between the SMA 50 curve and the SMA 20 curve is also taking place, which further confirms the downtrend. The upper band of the Bollinger bands indicator is occupying the $11.897 position, whereas its lower band is sitting at the $10.418 position. Lastly, The RSI curve moves in the bearish direction as the score has dropped to 47.19.
Overall, the bears have dominated the market for the past few weeks, as a constant decline in UNI/USD value has been detected. The technical indicators chart gives a selling signal because of the bearish current. We can see that 14 indicators are on the selling side, ten on the neutral, whereas only two indicators are on the buying side.
The Moving Averages Indicator shows a strong bearish trend, and 13 indicators sit on the selling position. In contrast, one indicator each rests on the neutral and buying positions. The oscillators predict a neutral trend for the day, and nine oscillators are on the neutral point, while one oscillator is on the selling and buying points.
Uniswap price analysis conclusion
The one-day and four-hour Uniswap price analysis confirms a decreasing trend for cryptocurrency. The bears have made a strong comeback, as the price levels receded to $10.97 low. Moreover, the hourly price prediction indicates similar price trends, as red candlesticks seem to dominate the price chart, marking a sharp decline.
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