The Uniswap price analysis reveals that the coin is exhibiting sideways price movement today. The price fell to the $5.40 range as the market opened, where UNI found support. Bulls are now seeking to regain control, but it seems that the selling pressure is pretty intense. After April 19, 2023, when steep crashes were seen, the coin was displaying bearish momentum. However, the cryptocurrency is finding it hard to break above the resistance level of $5.50 which was marked by bears on January 7, 2023, as the coin is struggling to break past this level at the moment.
UNI/USD 1-day price chart: Uni bulls to consolidate more
The 1-day price chart for Uniswap price analysis shows that although the UNI bulls are making a valiant effort to control the price function, the price movement today is still dominated by the bears. Despite suffering from selling pressure today, UNI/USD is only at a loss of 0.47 percent in value for the last 24 hours. This is primarily a result of the negative price action in the early going, as at the time of writing, the cryptocurrency pair is trading for $5.50. However, if we look at the past seven days, Uniswap has lost close to 12 percent of its value.
Given the Bollinger bands’ continued expansion, the volatility is still quite significant, with the upper band present at $6.52 representing the strongest resistance and the lower band present at the $5.45 level representing the strongest support for UNI. The average of Bollinger bands is at $5.99 above the price, and the moving average (MA) at $5.910 is also traveling below the SMA 50 level. The relative strength index (RSI) is on a flat curve and is present at index 37 in the lower half of the neutral zone.
Uniswap price analysis: recent developments and further technical indications
The 4-hour Uniswap price analysis chart shows the bears caused some damage during the first four hours of the trading session today, but on the other hand, the bulls are trying to maintain the price levels as a green candlestick of the same size has appeared on the chart. The day started with selling pressure, and the price hasn’t broken above the $5.50 level where it has been struggling for the past 20 hours.
The volatility is comparatively high, as Bollinger bands show, with the upper end of the bands at $5.97 and the lower end at the $5.32 level. The moving average is at the $5.49 mark, and the Bollinger Bands average is at the $5.64 mark above the current price level. The relative strength index (RSI) is moving on a slightly upwards curve and shows a score of 31 in the lower half of the neutral zone.
Uniswap price analysis: conclusion
The 1-day and 4-hour Uniswap price analysis show a bearish trend with considerable bearish pressure for today, however, bulls are currently attempting to take control. Today’s bulls may succeed in maintaining the lead if the purchasing momentum picks up power further down the line because adjacent support is also present; but, if selling pressure picks back up, bears may lengthen the leg and drive the coin even lower
