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Uniswap price analysis: Bearish sentiment causes a regression in price to $5.28

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TL;DR Breakdown

  • Uniswap price analysis shows a bearish trend.
  • The price has decreased up to $5.28.
  • Support for cryptocurrency is present at $5.19.

The Uniswap price analysis shows that bears have struggled to maintain dominance, resulting in a low price trend over the past two days. After peaking at $5.33, selling pressure emerged, leading to a downtrend. Today, the price declined to $5.28 as bears regained strength. This decline has had a negative impact on the coin’s overall value, delaying any potential recovery. The expectation is for a further decline in the upcoming hours.

UNI/USD 1-day price chart: The price took a recent hit, leading to a decrease to $5.28 

According to the one-day Uniswap price analysis, today’s trend indicates a downward movement as the price has reached $5.28. The price has been gradually falling over the past few days, although there were some intermittent bullish periods observed yesterday. Within the last 24 hours, the bears gained an advantage and successfully brought the price down to $5.28. It is important to note that the price is still above the moving average (MA) value of $5.21.

uni1dghaUniswap price analysis: Bearish sentiment causes a regression in price to .28
UNI/USD 1-day price chart. Source: TradingView

A decrease in volatility during the day points towards another bearish indication. Consequently, the upper Bollinger band value has shifted downward to $5.51, while the lower Bollinger band value has moved up to $4.94. Furthermore, the Relative Strength Index (RSI) score has undergone a reduction to a certain degree and currently stands at 47.

Uniswap price analysis: Recent developments and further technical indications

According to the four-hour Uniswap price analysis, the bears have taken the lead as the price continues to decline. A persistent downward trend has been observed in recent hours, bringing the price to the $5.28 level. Over the last 16 hours, the bearish momentum has strengthened significantly, leading to a substantial drop in price. The moving average in the four-hour price chart is currently situated at the $5.30 level.

uni4hgrawUniswap price analysis: Bearish sentiment causes a regression in price to .28
UNI/USD 4-hours price chart. Source: TradingView

An ongoing downtrend may result in a potential crossover between SMA 50 and SMA 20. With a slight decrease in volatility, the upper Bollinger band value has now changed to $5.43, while the lower Bollinger band value has been adjusted to $5.13. The continuous drop in UNI/USD value has contributed to a decrease in the RSI score, which now stands at 53.

Uniswap price analysis conclusion

The price saw a decrease today, as evident from the one-day and four-hour Uniswap price analysis. Despite an initial upward movement, the bears managed to assert their dominance, resulting in a drop to $5.28 within the past 24 hours. Unfavorable hourly predictions indicate that the cryptocurrency is expected to suffer additional losses in the coming period.

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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