1. BITBILIHome
  2. Article

Uniswap price analysis: UNI crashes 6 percent to drop as low as $4.5 support

• 26 views

TL;DR Breakdown

. Uniswap price faced a critical decline over today’s trade
. Price down to $4.5 support among larger market crash
. Bearish market indicators show seller domination

Uniswap price analysis shows a 6 percent decline in place for the token from price action over the past 24 hours. The bearish trend intensified to push price down to as low as the $4.5 support. Amid a larger bearish crypto market over the past 24 hours, UNI price was hit hard after trending variably sideways since the start of May. The recent decline has now pushed support to $4, with market cap dropping 7 percent to $4,705,039,899 and trading volume increasing a massive 73 percent, mostly consisting of selling action.

The larger cryptocurrency market faced a large-scale depletion across the board over the past 24 hours, with Bitcoin dropping 6 percent to the $25,500 mark, and Ethereum declining 5 percent to move down to $1,800. Among leading Altcoins, Ripple lost 6 percent to move as low as $0.50, while Cardano lowered a massive 8 percent in moving down to $0.34. Meanwhile, Dogecoin dropped 9 percent and Polkadot 6 percent, moving down to $0.06 and $5.2, respectively.

Screenshot 2023 06 05 at 8.45.56 PMUniswap price analysis: UNI crashes 6 percent to drop as low as .5 support
Uniswap price analysis: Cryptocurrency heat map. Source: Coin360

Uniswap price analysis: Bearish technical indicators swarm 24-hour chart

On the 24-hour candlestick chart for Uniswap price analysis, price can be seen facing a stern decline over the past 24 hours, moving as low as $4.57 to test the support region. Current price has recovered up to $4.70, but remains well short of the 9 and 21-day moving averages for UNI, as well as the crucial 50-day exponential moving average (EMA) at $5.02.

UNIUSDT 2023 06 05 20 51 45Uniswap price analysis: UNI crashes 6 percent to drop as low as .5 support
Uniswap price analysis: 24-hour chart. Source: Trading View

The 24-hour relative strength index also shows a dismal reading after falling deep into oversold territory on the daily chart. At a value of 32.46, the RSI shows massively depleted market valuation for UNI. Meanwhile, the moving average convergence divergence (MACD) curve also confirms a bearish divergence in place, with the trend line crossing below the signal line for Uniswap price analysis.

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.

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 decision.

文章来源于互联网:Uniswap price analysis: UNI crashes 6 percent to drop as low as $4.5 support

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10日 09:50
Next 2023年6月10日 10:58

Related articles

  • Binance NFT ends Sandbox staking and drops Polygon network support

    TL;DR Breakdown Binance NFT announces a halt to The Sandbox NFT Staking Program, effective September 26, 2023. Staking of LAND NFTs on the Polygon Network will be suspended, with an automatic unstaking process set to begin on September 27, 2023. Binance NFT is ending its support for the Polygon Network, requiring users to complete all withdrawals by December 31, 2023. Description Binance NFT has announced changes that will reshape its platform’s offerings. Effective September 26, 2023, at 06:00 (UTC), the platform will terminate The Sandbox NFT Staking Program. This decision is part of a broader strategy to refine the Binance NFT Marketplace’s product offerings. The staking of LAND NFTs, currently hosted on the Polygon Network, will … Read more Binance NFT has announced changes that will reshape its platform’s offerings. Effective September 26, 2023, at 06:00 (UTC), the platform will terminate The Sandbox NFT Staking Program. This decision is part of a broader strategy to refine the Binance NFT Marketplace’s product offerings. The staking of LAND NFTs, currently hosted on the Polygon Network, will be suspended from the aforementioned date….

    Article 2023年9月10日

  • US congress explosive votes shake regulatory landscape

    TL;DR Breakdown The major development was the approval of the Financial Innovation and Technology for the 21st Century Act by the House Financial Services Committee (FSC) in a 35–15 vote.  While these developments represent significant progress toward regulatory clarity for the crypto industry, there were some lawmakers who expressed reservations about another proposed piece of legislation, The Digital Assets Market Structure Bill.  Description Last week, the United States made significant strides toward bringing regulatory clarity to its rapidly evolving cryptocurrency industry. One of the major developments was the approval of the Financial Innovation and Technology for the 21st Century Act by the House Financial Services Committee (FSC) in a 35–15 vote. This crucial bill aims to establish clear … Read more Last week, the United States made significant strides toward bringing regulatory clarity to its rapidly evolving cryptocurrency industry. One of the major developments was the approval of the Financial Innovation and Technology for the 21st Century Act by the House Financial Services Committee (FSC) in a 35–15 vote. This crucial bill aims to establish clear rules for cryptocurrency firms,…

    Article 2023年8月1日

  • XRPL Achieves Impressive Milestone with 81 Millionth Ledger Closure

    TL;DR Breakdown The XRPL, known for its innovative smart contract protocol, experiences impressive growth as more users and developers embrace its unique benefits, including speed, efficiency, and lower fees. Despite facing legal challenges, the network’s progress and utility frameworks contribute to a positive sentiment surrounding XRP, and its associated digital currency, ultimately benefiting its price. Description In a significant achievement for the XRP Ledger (XRPL), the protocol recently reached a remarkable milestone with the closure of its 81 millionth ledger. As the preferred smart contract network for an increasing number of users, the XRPL continues to experience substantial growth, offering developers and users unique benefits in terms of speed, efficiency, and … Read more In a significant achievement for the XRP Ledger (XRPL), the protocol recently reached a remarkable milestone with the closure of its 81 millionth ledger. As the preferred smart contract network for an increasing number of users, the XRPL continues to experience substantial growth, offering developers and users unique benefits in terms of speed, efficiency, and uptime. This article will explore XRPL’s growth strides, its impact on…

    Article 2023年7月10日

  • Monopoly vs. privacy: Apple’s AI dominance raises concerns

    TL;DR Breakdown Apple profits from AI success despite not leading in the field. OpenAI’s ChatGPT app boosts Apple’s record service revenue. Despite controversies, Apple’s position allows continued gains from AI’s growth. At first glance, Apple Inc. might appear as something other than a heavyweight contender in the emerging generative artificial intelligence (AI) field. Still, the tech titan’s influence and strategic positioning have positioned it to secure considerable profit from the AI boom. The recent surge of OpenAI’s ChatGPT app on the App Store and the ensuing financial implications serve as a testament to this phenomenon. Just days after its debut on the platform, ChatGPT soared to the top of the free apps chart and was subsequently championed by Apple as an “Essential” app. This rise to stardom has had an interesting financial ripple effect on Apple. Leveraging the embedded subscription model, OpenAI’s ChatGPT Plus accrues $20 per month from iOS users. As a result, Apple, thanks to its infamous 30% commission or the so-called “Apple Tax,” secures $6 from every subscription. The widespread enthusiasm surrounding the ChatGPT app has turned…

    Article 2023年5月27日

  • BlackRock is warning U.S. of impending recession – Reasons

    TL;DR Breakdown BlackRock and Amundi, two major asset managers, express concerns about an impending U.S. recession. Despite optimism, there are visible vulnerabilities in the economy, especially in the labor market. Unemployment rose to 3.8% in August, signaling potential economic decline. Description When the investment titans speak, it’s time for the rest of us to listen. BlackRock, the world’s behemoth of asset management, is sounding the alarm bell, signaling caution and concerns about the future health of the U.S. economy. It’s not just an arbitrary worry; there’s a storm brewing on the horizon, and the word ‘recession’ … Read more When the investment titans speak, it’s time for the rest of us to listen. BlackRock, the world’s behemoth of asset management, is sounding the alarm bell, signaling caution and concerns about the future health of the U.S. economy. It’s not just an arbitrary worry; there’s a storm brewing on the horizon, and the word ‘recession’ is whispering through the financial wind. Signs of a Crumbling Economy While most of us might have been lulled into a false sense of security, thinking…

    Article 2023年9月15日
TOP