Uniswap price analysis: UNI declined from $7.28 as bearish momentum overgrows

Uniswap price analysis

TL;DR Breakdown

  • The latest Uniswap price analysis is going bearish today
  • Cryptocurrency price has reduced up to $6.89
  • Support for UNI/USD is present at the $6.86 level

Uniswap price analysis shows that the cryptocurrency has undergone loss once again. After the bullish price function of yesterday, the bearish pressure has returned, and bears have taken the lead again. The bears have caused a decrease in the price up to $6.89 and have been able to retain their position as the leading party.

image 31
Cryptocurrencies price heap map, Source: Coin360

The high selling activity is causing the price to downgrade further and has defeated the buyers in their attempt at revival. The overall cryptocurrency market is under bearish pressure as most coins are reporting losses today. The 24-hour trading volume for UNI has also decreased to $171 million, with a market cap of $5.27 billion.

UNI/USD 1-day price chart: Uniswap price levels continue sinking

The 1-day price chart for Uniswap price analysis shows that a drop in the Uniswap price value has taken place today. There have been some bullish efforts in the past week as well, as there are some green candlesticks visible as well. But the bears have been mostly at the lead throughout, and they are still succeeding in maintaining it as the price has gone down to $7.28 today after the recent drop. Overall the coin has lost a value of 3.75 percent over the last 24 hours.

image 29
UNI/USD 1-day price chart, source: TradingView

The volatility, on the other hand, is high, which is also a negative indication for the Uniswap future in the current scenario. The upper and lower values of the Bollinger bands represent the strongest resistance and support for the coin as they are settled at the following points; the upper value is at $7.28, while the lower value is at $6.86. The Moving Average (MA) is standing above the current price as well, which is at the $6.88 level. The Relative Strength Index index is present at the neutral point of 55 and is not indicating any strong inclination towards buying or selling.

Uniswap price analysis: Recent developments and further technical indications

The 4-hour Uniswap price analysis shows that the price function is headed down once again as the price levels are continuously sinking. The bears are pulling down the price levels, and currently, they have reached the $6.86 level at the time of writing.

image 30
UNI/USD 4-hour price chart, source: TradingView

The moving average is standing above the current price level at $7.080, which indicates a bearish trend for the near future. As the volatility is also high on the 4-hour chart, the upper Bollinger band value is at the $7.27 value, whereas the lower Bollinger band value is at the $6.93 level. The RSI graph is also showing downward movement, as the score has decreased considerably today and has reached an index of 54.12 level.

Uniswap price analysis conclusion

The Uniswap price analysis is reporting that a bearish activity has occurred today as well. The price levels have moved down to $6.89 in the last four hours. UNI is still looking for support, which is present at the $6.86 level. The overall market trend is also bearish, and if the selling pressure continues, UNI/USD may face further declines in the near future.

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.

Derrick Clinton

Derrick Clinton

Derrick is a freelance writer with an interest in blockchain and cryptocurrency. He works mostly on crypto projects' problems and solutions, offering a market outlook for investments. He applies his analytical talents to theses.

Related News

Hot Stories

DOJ backs move to stop SBF from accessing FTX and Alameda resources
Litecoin price analysis: Bearish pulls LTC down to $90.34 aftermarket crash
Elon Musk says Twitter payment will use fiat, but crypto will be implemented later
Ripple and the Central Bank of Montenegro are creating a CBDC
Ethereum price analysis: ETH retraces below $1,600 mark after a sharp rally seen earlier in the month

Follow Us

Industry News

DOJ backs move to stop SBF from accessing FTX and Alameda resources
Elon Musk says Twitter payment will use fiat, but crypto will be implemented later
Binance and Mastercard to launch crypto card in Brazil
Hermes set to commence trademark infringement trial
UK regulator targets FTX-linked charity

Add Your Heading Text Here