TL;DR Breakdown
Uniswap price analysis marks an overall bullish day for the coin today.UNI/USD has traded between $23.202 and $26.956 in the past 24 hours.Bears are slowly gaining momentum although the bulls still have the stronger hold.The coming few hours might mark a downtrend.Not the best time to buy since the bears are ready to takeover.
Uniswap price analysis marks a bullish day for the coin today, as UNI/USD continues to push beyond the closing price of $23.6742 yesterday. But how far could it go? The bulls are currently in full swing and might manage to break the $27.611 resistance recorded on the 16th of September 2021.
Cryptocurrency heat map by Coin360
As the crypto heat map indicates, the entire market has a bullish sentiment today. For instance, both Ethereum and Bitcoin have marked an increase of 5.09 percent and 0.47 percent, respectively. Altcoins are also following the same course.
Uniswap Price Chart by TradingView
The 1-day Uniswap price analysis graph might be of more interest, as it gives us a clear picture of the market’s course. The upward trajectory of the RSI line suggests that the bulls are ready to further push the market upwards.
At the same time, the MACD histograms are well above zero and continue to rise, with no indication of a crossover occurring soon. Hence, the next few hours are expected to be bullish as well according to this bigger picture. However, you shall find more specific predictions in the 1-hour and 4-hour graphs next.
The 24-hour price movement of Uniswap
Uniswap Price Chart by TradingView
In the last 24 hours, Uniswap is trading between $25.202 and $26.956. The coin has marked the increase with a consistent uptrend. However, the bears have already started to pick up momentum. Yet, the RSI line remains stable at 67, indicating that the bulls still have a stronger hold.
Furthermore, the coin is trading above the EMA level while the EMA line has an upward trajectory. So, there are strong chances of further improvement in the price. Though, EMA signals are often delayed and hence, should not be relied on as the sole indicator.
The trading volume of UNI/USD has gone down by 9.40% in the past 24 hours. Based on its market cap, it currently holds the 12th position.
Uniswap 4-hour price graph – Is a downtrend imminent in the next interval?
Uniswap Price Chart by TradingView
The 4-hour Uniswap price analysis shows that a downtrend might be imminent in the coming few hours. First, in the current interval, the bears have pulled the price slightly lower. At the same time, the RSI marks a rapid change in the trajectory with the levels falling from 53.02 to 48.45.
The negative gradient of the RSI line indicates that the investors are rushing in for a sell. It might be true that UNI/USD has completed its current course. Now, after few hours of fluctuation around the $26.8 mark, a rapid fall shall occur.
Uniswap price analysis: Conclusion
UNI/USD has remained bullish for the most part today. However, the 4-hour Uniswap price analysis along with the 1-hour graph reveal bearish tendencies. From here, the market might be ready for a shift and hence, it is not the best time for a short-term investment.
To learn more about investment strategies, consider reading our in-depth Crypto investing guides.
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