The Uniswap price analysis shows cryptocurrency trends are going in the bearish direction for today. The price of UNI/USD is rapidly declining as it has now dropped to $5.76. The short-term trending line is going in the descending direction as well as the bears have been in the leading position since yesterday evening.
The key resistance is at the $5.95 level, but it looks this will be difficult to break sellers and buyers need to work for that. The immediate support lies at the $5.69 level, and if it fails to hold, then we can expect the UNI price to go down even further toward the $5.50 support level.
UNI/USD 1-day price chart: Price lowers to $5.76 along with decreasing volatility
The one-day Uniswap price analysis chart is showing signs of further loss after the bears took over the market earlier this day. The past few days have also brought negative news for the bears, and the trend has been unchanging for today as well. The price has moved down to the $5.76 level after the bears continue their lead today, with a loss of 2.8 percent in the last 24 hours.
The momentum is building up at a rather slow pace now, and the price continues to trade below the moving average (MA) value is at $6.12. The volatility is decreasing, and as a result, the Bollinger bands’ values have changed to the following figures; the upper band is now at $6.40 and the lower band is at $5.72, showing more bearishness in the coming days. The Relative Strength Index indicator is near the midpoint value of 41.31 and suggests that there may be some sideways movement in the near future with buyers trying to take back control from the bears.
Uniswap price analysis: UNI/USD is facing rejection at $5.95 after a bearish trend
The latest Uniswap price analysis shows that the price has been going downward for the last four hours as well. The trending line has been towards the bearish side for the past24-hours, and it is still moving in the same direction. The loss has been huge as the UNI price is now at the $5.76 position, which is quite near to the support level as the downtrend has been of quite an impact.
The moving average is trading at $5.84 below the SMA 50 level, which is also a bearish indication. The Bollinger Bands on the hourly chart have also changed their paths as the lower band is now at $6.47 and the upper band is at $5.66, reflecting that UNI/USD could remain in a range-bound phase for some time before any serious bearish movement takes place. The RSI is seen at 29.11 points, indicating that it may take some time before we see a sharp movement.
Uniswap price analysis conclusion
From the given Uniswap price analysis for one day and four hours, it looks like the market bears are still dominating. The UNI price is currently trading at $5.76 which is very near to its support level of $5.69, but buyers may try to take control of the market soon in order to push the price up again. However, until that happens, we can expect the prices to remain in the bearish zone. The indicators also show some signs of a sideways trend, so we may expect to see some consolidation in the near future before any major movements take place.
