Uniswap Price Analysis : $5.52 as Bears Fall in Prices
The price of Uniswap has fallen by 26.84% in the past 7 days. The price declined by 4.25% in the last 24 hours. In just the past hour, the price grew by 3.10%. The current price is $5.7665 per UNI. The Uniswap price analysis is bearish as a decline in the price level has been observed today; the price levels have moved down to meet the $5.52 range.
As bulls were active previously and an uptrend was following for the past two days, the crypto pair gained significant value during this time, but today bears have taken the lead again.
The bears are inclined towards taking the price further below the current price value to keep maintaining their bearish slide that has been continuing for the past few hours. The bears have played swiftly as they have dodged past the bullish momentum that had interrupted their streak.
UNI/USD 1-Day Price Chart: Bears bounce back
The 1-day price chart for Uniswap price analysis is once again in favor of the bears as they have regained their momentum after a short period. Price price has been pulled down, as it reached a price of $5.52 today after being rejected at $6.22. As the coin moved higher yesterday, selling pressure was expected as the price has now reached a resistance area.
Meanwhile, the moving average (MA) price on the 1-day chart was found trading below the price level at $53.10 level. Furthermore, the SMA 20 curve is well below the SMA 50 curve, which can also be taken as a bearish signal. As the short-term trending line is still trending down, however, the bullish trend of the past two days has provided good support to the coin price function, as it may have taken the price to at least the last five-day high. has helped.
Bollinger Bands Indicator shows high volatility for DOT/USD as the indicator is covering more area on the chart, and its upper band is showing a value of $7.99 while its lower band is showing a value of $5.28. The Relative Strength Index (RSI) index also saw a huge jump as it crossed the overbought mark and settled at 53.10.
Uniswap Price Analysis: Latest Developments and Further Technical Signs
The 4-hours Uniswap price analysis indicates that there has been a momentary decline in the price price as a result of bearish momentum. The price declined to $5.52 during the first four hours of today’s trading session, but support for DOT reappeared as the price is rising again this time as the last candlestick on the 4-hours chart is green.
If the market sentiment turns negative again then the bearish momentum may return and intensify in the coming hours. Furthermore, the Bollinger Bands prices on the 4-hours price chart are as follows; The upper Bollinger Band is at $6.21, while the lower Bollinger Band is at $5.03, indicating increasing volatility for the cryptocurrency.
The moving average (MA) is trading below the price level at $5.77 yesterday after crossing the SMA50. The RSI score is also rising due to the ongoing buying trend and has reached the index of 42.22; However, for eight consecutive hours, the RSI saw a sharp decline.
Uniswap Price Analysis Conclusion
Uniswap price analysis shows that the price level has dropped to $5.52 as more sellers than buyers entered the market. If the bulls are able to find a chance to correct the price gains, it is likely that the price will continue its journey above the $6.22 resistance.
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