Uniswap price analysis: UNI/USD Bearish stream lowers coin value down to $6.20
Support for Uniswap prices is present at $6.04
Uniswap price is facing resistance at $6.61
Uniswap price analysis shows a bearish trend as the price has fallen below the $6.00 mark. The support for Uniswap prices is present at $6.04, and the resistance is seen at $6.61. The UNI/USD pair has been on a downward trend for the last 24 hours as it is currently trading at the $6.20 mark. The overall market for the UNI/USD pair is in decline as selling pressure intensifies, Uniswap price is showing a solid bearish momentum as the digital asset declined by nearly 6.02% over the past 24 hours. The market capitalization of Uniswap has also declined to $4,728,396,083, and the 24-hour trading volume is at $212,198,611.
Uniswap price on 1-day analysis: Price levels descend to $6.20 boundary after a downswing
The Daily chart for Uniswap price analysis shows that the coin is following a clear downtrend as it has made lower lows and lower highs. The prices have been stuck between $6.04 and $6.61 levels for the past few hours, and a breakout is needed for the trend to continue. The MACD indicator on the 1-day chart is currently in the bearish zone as well. This indicates that the momentum is in favor of the bears and a further decline can be expected.
UNI/USD 1-day price chart, source: TradingView
The Moving average indicator on the 1-day chart is currently in the bearish zone as well. The 50-day MA line is currently at $6.64, and the 200-day MA line is currently at $6.03. This indicates that the path of least resistance is to the downside and a further decline can be expected in the prices of Uniswap. The RSI indicator on the 1-day chart is currently at 42.66 and is showing no signs of a bullish reversal.
Uniswap price analysis on a 4-hour price chart: Price goes down to $6.20 after bearish drift
On the 4-hour chart, Uniswap analysis has formed a bearish flag pattern which is a continuation pattern. The price is currently trading at the support of the flag which is around $6.04. The buyers will need to push the prices above the $6.61 level to take control of the market. If the bears can take control of the market, we can see prices move down to $6.04.
UNI/USD 4-hour price chart, source: TradingView
The RSI indicator chart is currently below the 61.18 level which is a bearish sign. This indicates that the selling pressure is currently increasing in the market. The MACD line (blue) on the 4-hour chart is currently moving below the signal line. The MA 50 and 200 lines on the 4-hour chart are both currently in a bearish trend as well. The 50 MA is at $6.61, and the 200 MA is at $6.04.
Uniswap price analysis conclusion
Uniswap price analysis shows that the UNI/USD pair is in a bearish trend as prices decline below the $6.61 level. Prices have recently found support at the $6.04 level as buyers step in to defend this key level. The market is highly volatile as prices fluctuate in a wide range. The bulls are seen to be stumbling to defend the $6.00 level as selling pressure intensifies. The bears are seen to be in control of the market as they aim to push prices lower.
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