Uniswap price analysis: Bearish clouds fade as UNI prices near $8.87

Uniswap price analysis shows a bearish trend that has brought the UNI/USD value down to $8.97. The market had a breakout to the upside that found resistance at $9.24, which has caused the market to roll over and head back down. The market is trading below the $8.87 level, which is a key support area that was broken yesterday. If the market can hold above the $9.00 level, there is a chance for the market to find support and move back up. However, if the market breaks below the $8.87level, it is likely to head towards the $7 level.

The overall market for the UNI/USD pair is in decline as selling pressure intensifies.UNI/USD pair is showing a solid bearish momentum as the digital asset declined by nearly 0.51 percent in the last 24 hours. The pair had earlier spiked to $9.24 but failed to close the day above this level, which has resulted in a sell-off. The market cap for the digital asset is currently at $6,742,557,097, while the trading volume in the last 24 hours is $187,115,213.

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Uniswap price on 1-day analysis: UNI/USD pair in a bearish trend

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 $8.87 and $9.27 for some time now, but a bearish breakout has occurred, which has brought the prices down to the $8.97 level.

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UNI/USD 1-day chart, source: TradingView

The MACD indicator is in the bearish zone as the signal line is above the histogram. The RSI indicator for Uniswap price is at the 50 level, which shows that the market is neither overbought nor oversold. The 50-day MA line has crossed below the 200-day MA line, which is a bearish sign.

Uniswap price on 4-hour analysis: UNI/USD pair facing resistance at $9.24

On the 4-hour chart, Uniswap price 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 $8.87. The buyers will need to push the prices above the $9.24 level to take control of the market. The MACD line (blue) is below the signal line (red), which is a bearish sign. The RSI indicator is moving in the bearish territory as it is below the 50 levels. The MA 50 line is moving below the MA 200 line, which is a bearish sign.

image 46
UNI/USD 4-hour price chart, source: TradingView

Uniswap price analysis conclusion

Uniswap price analysis shows that the UNI/USD pair is in a bearish trend as prices decline below the $9.24 level. Prices have recently found support at the $8.87 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 $9.00 level as selling pressure intensifies. The bears are seen to be in control of the market as they aim to push prices lower.

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.

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