Uniswap price analysis: As bears exhibit resistance, UNI struggles at the $5.90 level

TL;DR Breakdown

  • The Uniswap price analysis shows a bearish trend.
  • Resistance for UNI is present at $6.10.
  • Support is present at the $5.79 level.

Given that the price has fallen today, Uniswap price analysis shows a bearish tendency. The cryptocurrency is modestly covering the range downwards as coin value declines against the wishes of buyers, according to the most current technical analysis. Previously, the cryptocurrency experienced bullish sentiment after finding support at the $5.63 mark. But today’s circumstances are different, and there has been constant selling pressure for the past few hours because the price function is under a bearish impact, which has caused the price to drop to the $5.92 level.

UNI/USD 1-day price chart: UNI’s worth declines by 1.29 percent

Given the selling pressure at the present price level, the 1-day price chart for Uniswap price analysis is trending downward for the day. Coin struggled to keep its price level, and as prices have fallen, the worth of the coin has decreased to $5.92. The fact that the cryptocurrency lost more than 1.29 percent of its value in the previous day and more than 4.27 percent in the previous week confirms the intense bearish pressure affecting the price function. The moving average (MA) has also experienced a steep decline, dropping to a level of $5.89.

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

The lower arm of the volatility indicator is turning up, which suggests that the volatility of the coin will drop over the next few days. The volatility is currently in a decreasing pattern. The upper and lower values of the Bollinger bands, respectively, are $6.62 and $5.46. The price has presently positioned itself below the indicator’s mean average, which is present at the $6 level. After today’s decline, the Relative Strength Index (RSI) score has also dropped to an index of 46; the RSI indicator’s curve is also downward due to the market’s selling activity.

Uniswap price analysis: Recent developments and further technical analysis

Given that the bears have recouped some of their lost power, the 4-hour Uniswap price analysis reveals a slight deficit in the price levels. The coin was under bearish pressure from the start of the day, but the majority of the loss occurred during the first four hours when bears showed significant momentum, and the price has since dropped to $5.92. At one time, there was also an appearance of support, but selling pressure has since returned.

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

The Bollinger bands are showing divergence, with the upper band at the $6.09 mark and the lower band at the $5.54 mark. The moving average (MA) figure of $5.95 is above the Bollinger bands mean average line, which is forming at the $5.82 mark. As the selling pressure continues to restrain the price levels, the RSI score is also essentially unchanged at index 52, and the curve is still slightly pointing lower.

Uniswap price analysis conclusion

The bears are in charge and have somewhat lowered price levels, according to the 1-day and 4-hour Uniswap price analysis. A further loss below $5.92 can also be anticipated, as the bears are still in charge of the market and expect the price of cryptocurrency to continue falling.

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

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.