Uniswap price analysis shows a bearish trend today for the price of UNI/USD as bears gain more market control. Uniswap price has been trading sideways direction, as the buyers and sellers have been unable to gain a clear upper hand. The cryptocurrency price dropped to an intraday low of $6.38 and is currently trading near $6.40.The downtrend in Uniswap is being driven down by strong selling pressure from the bears. The resistance level for UNI/USD pair is at $6.78, and the support level is at $6.24.If the bulls manage to breach the resistance level, then the UNI/USD price may reach $6.5 in the near future. On the other hand, if bears take control, the price may decline to $6.3.The overall market capitalization for the UNI/USD pair is currently at $4.86 billion, and the trading volume has increased by 17.14% and is now trading at $200 million.
Uniswap price analysis 1-day chart
The One-day Uniswap price analysis has formed a bearish flag pattern. The triangle pattern is a continuation pattern, and it suggests that the bearish trend in Uniswap will continue. The downward trend in Uniswap is likely to remain in place in the near future, and traders should be cautious while trading UNI/USD pair. This timeframe’s Bollinger Bands are reasonably close together, which is a sign of minimal market volatility, which is an indication of bearish pressure in the market.
The upper Bollinger Band is located at $7.247, while the lower Bollinger Band is at $6.253.The Relative Strength Index (RSI) indicator is currently at 55.96. This indicates that the market is in a neutral zone and the price is neither oversold nor overbought. Investors should consider this as a sign to be careful before entering any position in Uniswap. The technical indicators are mixed, as the moving average convergence and divergence (MACD) is trending to the downside since the MACD line is below the signal line
UNI/USD 4-hour price chart: Bulls are crushed under bearish pressure as the decline continues
Looking at the hourly Uniswap price analysis also demonstrates a bearish momentum in the market. Given that there is still a lot of selling pressure in the market right now, the bearish trend is anticipated to continue. This timeframe’s Bollinger Bands are reasonably close together, which is a sign of minimal market volatility, which is an indication of bearish pressure in the market. Its upper band displays a value of $7.128, while its bottom band displays a value of 6.225, signifying resistance and support, respectively.
The hourly moving average convergence and divergence (MACD) is bearish, and the histogram is making lower lows again, which indicates the selling momentum may pick up again. The Relative Strength Index (RSI) for the UNI/USD pair is trading at 39.84 and is falling toward the oversold territory, which is a sign that the bears are in control of the market.
Uniswap price analysis conclusion
In conclusion, Uniswap price analysis has formed a bearish flag pattern, suggesting that the downtrend could continue. The UNI/USD pair is currently trading below $6.40; if the bears manage to break the $6.24 support level, we could see further downside movement in the Uniswap price. The technical indicators are also showing bearishness in the market, as they are all trending lower.