Recent Uniswap price analysis shows a negative trend today as the UNI/USD price is trading below $6.22 for the second consecutive day. The bears have taken over the price charts again and are pushing the price lower. The UNI/USD pair opened at $6.23 today and is currently trading at $6.22, which dropped by over 0.15% in the last 24 hours. Support for the UNI/USD pair is found near the $6.18 level, if a break below the $6.18 level is seen, then the price could further depreciate towards $6.20. On the higher side, the bulls will have to break past the key resistance at the $6.29 level before any further upside can be expected. The current CoinMarketCap ranking is #18, with a live market cap of $4.74 billion and a 24-hour trading volume of $61.66 million.
Uniswap price analysis 1-day chart
Looking at the 1-day Uniswap price analysis reveals a further decline in price has been recorded, with the current exchange rate standing at $6.22 at the time of writing. The price function is headed downward at the moment, with the bears showing a stronger hand in pushing the price lower. On the downside, Uniswap has found some support near the $6.18 range and could find further support at $6.15 if the price falls below the $6.22 level. On the upside, immediate resistance is found near $6.29 and then further at the $6.30 mark.
The technical indicators for Uniswap remain bearish, with a MACD showing strong downward momentum. The relative strength index (RSI) is also in the bearish zone and is currently at 50.16, indicating further downward pressure on the price could be expected in the coming hours. The bands of the Bollinger Band indicator are contracting, indicating a gradually falling volatility. The upper band is at the $7.327 mark, with the lower one placed at $6.069.
UNI/USD 4-hour price chart: Uniswap price drops by 0.15% after a bearish run
The 4-hour Uniswap price analysis also shows a bearish trend for the market as a sudden drop in price was observed today. The volatility for UNI has slightly increased, as have the Bollinger bands, which have diverged a bit. The upper band is currently at $7.050, which represents resistance to the coin’s price function, and the lower band is at the $6.022 mark, which stands in support of the cryptocurrency pair.
The moving average convergence and divergence (MACD) have crossed into negative territory as well, which confirms a strong downward trend for Uniswap prices. The Relative Strength Index (RSI) graph shows a downward curve as the score dropped to 41.25. The selling pressure and selling activity that is now taking place in the market is indicated by the RSI’s downward slope.
Uniswap price analysis conclusion
Overall, the Uniswap price chart shows a bearish trend in the near term as the UNI/USD pair is struggling to stay above the $6.29 resistance level. The bulls will need to take control of the market soon if they want to see any upside; otherwise, further downside pressure could be expected. The technical indicators remain bearish, and strong selling activity is taking place at the moment. If the price manages to break past the $6.29 resistance level, then a bullish trend could be seen in the coming days.
