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Uniswap price analysis: UNI corrects down to $5.76 as bears return

Uniswap price analysis: UNI corrects down to $5.76 as bears return

TL;DR Breakdown

  • Uniswap’s price analysis shows bearish price movement.
  • The price drops to $5.76 during the day.
  • Support is present at the $4.88 level.

The Uniswap price analysis shows that there is once again a bearish pressure. Since the price last reached its peak on November 15, 2022, at $6.27, there has been a dramatic drop in price levels. Historically, the trend has been primarily downward, and today’s trend is no different. All gains that the cryptocurrency saw yesterday have been erased as the price has fallen today to $5.76.

UNI/USD 1-day price chart: UNI loses another 3.5 percent value

Following the previous bearish strike, the bulls are attempting a rebound as per Uniswap price analysis. But the bullish momentum seen yesterday has been successfully countered by the bears, who have once more won on the 1-day price chart. The price dropped and is now trading at $5.76 after losing about 3.53 percent of its worth in the previous day. Due to recent downtrends, the moving average (MA) is greater than the price value, $5.89, at the moment.

UNI 1day
UNI/USD 1-day price chart. Source: TradingView

The Bollinger bands’ fast expansion has caused a major increase in volatility. This has caused the lower Bollinger band to reach $4.88 in value, representing support for the coin, and the higher Bollinger band to reach $7.82 in value, representing resistance for the crypto pair. The Relative Strength Index (RSI), which today stepped to index 44, is once again confirming the downward trend.

Uniswap price analysis: Recent developments and further technical indications

The 4-hour Uniswap price analysis suggests that the bears have caused substantial damage during the first eight hours of the current trading session, as the coin’s price has undergone a fall today; however, bulls are also striving to uplift the price levels but have been only partially successful. The price is now settling at the $5.75 level as the bulls have provided support, which is acting as a cushion for the cryptocurrency price.

On the contrary, it is expected that the price may fall further in the coming hours. The short-term trending line is also moving downward, which indicates a major bearish sign. The moving average is above the price level of $5.83. The Bollinger Bands average is currently resting at $5.85.

Uni 4h 1
UNI/USD 4-hours price chart. Source: TradingView

The price fluctuations are expected to slow down as the volatility is decreasing constantly and the Bollinger bands are narrowing on the four-hour chart. This has resulted in the upper Bollinger band coming to the $6.03 value and the lower Bollinger band reaching the $5.66 value. The RSI indicator is also pushing its movement into the lower half of the neutral range and is present at index 43.

Uniswap price analysis

The bears are currently winning the game, as evidenced by the one-day and four-hour Uniswap price analysis. The Uniswap price has declined, and it is $5.75 at the time of writing. The downtrend has returned to the market, and it is assumed to extend into the future as well. The price may step down further in search of a new low.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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