1. BITBILIHome
  2. Article

Uniswap price analysis: UNI plunges toward $5.02 as bears take over

• 21 views

TL;DR Breakdown

  • Uniswap price analysis shows a downtrend today.
  • UNI has lost 1.41 percent in the past 24 hours.
  • Support for UNI is located at the $5.00 level.

Uniswap price analysis for today indicates that the bears have taken control. The UNI/USD pair has dropped to its current level of $5.02 after hitting a high of $5.13. The sudden plunge in price is attributed to increased selling pressure from investors, which is pushing the price lower and lower. The selling pressure has been so strong that Uniswap’s support level at $5.00 was broken.

The next level of support for Uniswap is located at $4.90, which is around 1.41% lower than the current price. If UNI/USD pair continues to drop and breaks through this support level, it could see an even bigger decline in its price. On the upside, UNI/USD pair needs to break through the $5.13 resistance level in order for it to move higher and regain some of its lost value.

Uniswap price analysis 24-hour chart: UNI extends the losses

Uniswap price analysis of the 24-hour chart reveals that the selling pressure is getting stronger as the day progresses. The decline in price action has been gradual, indicating that the market could remain rangebound for some time yet. The previous day the bullish sentiment had taken hold, with the UNI/USD pair jumping above $5.55. However, in the past 24 hours, the bears have taken hold and pushed the price lower.

image 120Uniswap price analysis: UNI plunges toward .02 as bears take over
UNI/USD 1-day price chart. Source: TradingView

The RSI indicator is also indicating a bearish trend, with the current reading at 44.35 points. This suggests that Uniswap could continue to decline in value over the coming days if the bears remain in control. The MACD histogram is also pointing towards an extended downtrend, with a negative divergence in the signal line. The Bollinger bands are starting to narrow, indicating a decrease in volatility. The upper Bollinger band is located at $5.34, and the lower Bollinger band is at $4.87.

Uniswap price analysis 4-hour chart: Bears continue to dominate

Uniswap price analysis of the 4-hour chart reveals that the bears are still in control over the UNI/USD pair. The 4-hour chart shows a series of lower highs and lower lows, indicating an extended bearish trend. The bulls may try to gain control of the pair in the near term, but they have a tough task ahead if they are to turn things around.

image 121Uniswap price analysis: UNI plunges toward .02 as bears take over
UNI/USD 4-hour price chart. Source: TradingView

The relative strength index is currently at 46.53 points, suggesting that the bearish momentum could remain in play for some time. The moving average convergence divergence shows a negative divergence in the signal line, suggesting that the downtrend could continue. The upper Bollinger band is located at $5.13, and the lower Bollinger band is positioned at $4.99.

Uniswap price analysis conclusion

Overall, Uniswap price analysis shows that the bears are firmly in control of the UNI/USD pair. The selling pressure is increasing, and the pair has broken through its support level at $5.00. If this downward trend continues, Uniswap could see further losses in value over the coming days. On the upside, bulls need to break through the $5.13 resistance level if they are to gain some momentum and push prices higher again.

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.

文章来源于互联网:Uniswap price analysis: UNI plunges toward $5.02 as bears take over

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月9日 05:53
Next 2023年6月9日 08:05

Related articles

  • ZA Bank launches retail trading platform in Hong Kong

    TL;DR Breakdown ZA Bank has launched its retail trading platform in Hong Kong following regulatory approval. Hong Kong commits to strengthening regulations to protect retail traders. ZA Bank, based in Hong Kong, has announced its plans to offer retail virtual asset trading in the region. The bank revealed its intentions shortly after the Hong Kong Securities and Futures Commission (SFC) declared its acceptance of license applications for retail virtual asset trading platforms. In order to obtain regulatory approvals, ZA Bank will collaborate with locally licensed virtual asset exchanges, as stated in their announcement. Once the necessary approvals are secured, the bank’s customers will be able to trade virtual assets using fiat currency through the ZA Bank App. ZA Bank floats its virtual asset trading platform This move towards virtual asset trading is part of ZA Bank’s broader strategy, which also includes plans to facilitate trading in United States stocks in the future. The SFC’s decision to accept license applications for retail virtual asset trading platforms was accompanied by the implementation of new guidelines, effective from June, which focus on asset…

    Article 2023年5月27日

  • Simultaneous approval of all Ethereum ETFs on the horizon

    TL;DR Breakdown The U.S. Securities and Exchange Commission (SEC) is leaning towards approving multiple Ethereum ETF applications simultaneously. Unlike last year, the SEC hasn’t asked firms to withdraw their applications, hinting at a possible change in stance. Currently, 16 applications for Ethereum or combined Bitcoin-Ether futures ETFs await the SEC’s decision. Description The Ethereum ETF scene is on the brink of a revolution. The U.S. Securities and Exchange Commission (SEC), historically cautious and skeptical about the crypto world, seems to be shifting its stance. The wave of change hints that the agency might give the green light to a barrage of Ether futures exchange-traded fund (ETF) applications. … Read more The Ethereum ETF scene is on the brink of a revolution. The U.S. Securities and Exchange Commission (SEC), historically cautious and skeptical about the crypto world, seems to be shifting its stance. The wave of change hints that the agency might give the green light to a barrage of Ether futures exchange-traded fund (ETF) applications. The Flood of Applications: What Changed? Over the past several months, a barrage of applications…

    Article 2023年8月20日

  • Binance accused of misconduct with user funds

    TL;DR Breakdown Binance, a leading global cryptocurrency exchange, is facing allegations of mishandling user funds. The claims revolve around the company’s complex network of financial operations, involving entities like Key Vision Development, Merit Peak, and Binance Holdings. Customers were directed to deposit funds directly into the Key Vision account, a practice that has raised concerns about transparency and accountability. Binance, the global cryptocurrency titan, finds itself in the hot seat following allegations of inappropriate handling of client funds, adding a new chapter to the saga surrounding the company’s complex financial operations. The accusations pivot around the intricate network the exchange has established to move and manage client and company funds across the globe. Shadowy financial network Within the labyrinthine financial network of Binance, a handful of entities hold significant sway. Among them is Key Vision Development, a firm incorporated in Seychelles and controlled by CEO Changpeng Zhao. Alongside Merit Peak and Binance Holdings, these entities form the fulcrum of the company’s international operations. Among the central players in this controversy is Silvergate, a small bank based in San Diego, that…

    Article 2023年5月25日

  • Europe is against network fee charges on tech giants

    TL;DR Breakdown A majority of European countries rejected a proposal by large telecom operators to impose a network fee on tech giants such as Google to fund the rollout of 5G and broadband in Europe. Telecom ministers from 18 countries voiced concerns about the potential effects of the levy, including extra costs passed on to consumers and violation of EU’s “net neutrality” rules. Tech giants like Google, Apple, Meta Platforms, Netflix, Amazon, and Microsoft opposed the levy, arguing they already invest substantially in the digital ecosystem. The proposal for a network fee charge on tech giants has been rebuffed by a majority of European countries, as they’re siding against the idea of putting an additional financial burden on leading tech companies. This motion, backed by prominent telecom operators in Europe, argues for the levy on the likes of Google to facilitate the deployment of broadband and 5G throughout the region. The opposition stance In a Luxembourg meeting with EU industry chief Thierry Breton, 18 telecom ministers of the Union voiced their disapproval or called for a comprehensive study into the…

    Article 2023年6月9日

  • Biden Administration Feels the Heat to Hasten Crypto Regulation Implementation

    TL;DR Breakdown The Biden administration is facing mounting pressure to speed up the implementation of a law aimed at cryptocurrency tax evasion, which, if enforced, could generate an additional $28 billion in federal revenue over a decade. The delayed tax regulation is part of a broader dispute, with crypto firms and venture capitalists lobbying for special provisions for their businesses. Description In a recent report by the Wall Street Journal (WSJ), there have been notable delays within the U.S. Treasury Department concerning the implementation of a law aimed at identifying tax evaders within the cryptocurrency space. The holdup has not only put the government’s financial standing in a precarious position but also induced tension within the … Read more In a recent report by the Wall Street Journal (WSJ), there have been notable delays within the U.S. Treasury Department concerning the implementation of a law aimed at identifying tax evaders within the cryptocurrency space. The holdup has not only put the government’s financial standing in a precarious position but also induced tension within the Biden administration. Billions of dollars in…

    Article 2023年8月3日
TOP