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Uniswap price analysis: UNI Price corrects down to $5.42 mark

Uniswap price analysis

TL;DR Breakdown

  • Uniswap price analysis shows a downtrend
  • The price has decreased up to the $5.42 level
  • Support for $5.42 is present at the $0.0611 level

Uniswap price analysis shows the bears have been able to suppress the price levels below the $5.59 level during the latest downtrend. The bears are reigning the price charts as the price has decreased again during the day. Currently, it is settled on the $5.42 mark and is expected to decrease to an even lower level in the coming hours as well. The bearish momentum is to extend in the future as well as the broader cryptocurrency market is indicating a downtrend.

The bullish force is weak and the price may not bounce back in the near term. However, for an upward trend to begin, the buyers must take control of the market and the price must break above the $5.59 level again. The UNI is down by 2.21% in the past 24 hours, and it is expected to decrease further in the coming days. The current 24-hour trading volume is recorded at $56 billion, and a market capitalization of $4.132 billion.

Uniswap price analysis 1-day price chart: UNI unable to withstand the bearish pressure

The 1-day price chart for Uniswap price analysis shows the price has decreased quite steadily because of the constant increase in bearish momentum. Bears have been able to decrease the price to $5.42 at the time of writing, and a further decrease is also expected during the approaching hours. The moving average (MA) value is still standing high as compared to the current price, i.e., $5.24. The SMA 20 curve is going higher as well because of the previous bullish trend.

image 79
UNI/USD 1-day price chart. Source: TradingView

The volatility has increased as well because of the expansion in Bollinger bands. As a result, the upper and lower Bollinger band values have been altered as now the upper value is at $5.50 while the lower value is at $4.98. The Relative Strength Index (RSI) score has decreased but is in the neutral limit and is settling at index 42.10; however, the downward curve of the indicator is hinting at the selling pressure in the market.

Uniswap price analysis: Recent updates

The 4-hour Uniswap price analysis is showing signs of bearish activity taking place as the price has decreased to a considerable level. The price is standing on the $5.42 mark at present and is expected to move even lower in the upcoming time period. However, the green candle was seen the previous day which is a sign of some positive momentum in the market. But, this was not enough to counter the bearish force and the price fell again.

image 80
UNI/USD 4-hour price chart. Source: TradingView

The volatility is high in the four-hour chart, which may provide a chance for bulls to uplift the price levels in the future price movement. The upper value of the Bollinger bands Indicator has reached $5.61 while the lower value has reached $5.24. The RSI score is moving up again as the buying activity resumed again in the market and has reached index 62.75.

Uniswap price analysis conclusion

The above 1-day, as well as the 4-hour Uniswap price analysis, confirm that the bears have been maintaining their lead quite successfully for the past few days after the price last peaked at $5.59. The price has decreased today as well and is standing at the $5.42 position at the time of writing, and the bearish momentum may intensify in the coming hours.

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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