Will UNI Break Below Key EMAs?

Uniswap price is down by 10.76% over the past 7 days, whereas according to the price action, the UNI price continues to move in the bear’s influence. Sellers are trying to pull Uniswap crypto prices toward the lower trendline. Uniswap must attract buyers in order to surge toward the upper trendline. Investors in Uniswap crypto need to wait for any directional change over the daily time frame chart. 

Uniswap price prediction showcases the decline of UNI crypto price from the higher level over the daily time frame chart. UNI crypto needs to attract buyers in order to reach the recovery level of $6.306 and then $5.832. However, trading volume has been below average and needs to grow for the Uniswap crypto price to sustain at a higher level. 

Meanwhile, UNI crypto is trying to trade above the 20,50,100, and 200-day daily moving averages. Uniswap price has lost 10.76% in a week and has grown by 8.49% in the last three months. Moreover, the UNI price has grown around 24.76% in the last six months and has lost 8.91% year to date. This confirms the bearishness in recent sessions.

Technical Analysis of Uniswap Crypto Price in 1-D Time Frame

If it can stay at this level, the Uniswap price could continue to go up and reach the first and second targets of $7.800 and $8.261, respectively. However, if the UNI price cannot maintain this level and falls, then it might hit the closest support levels of $6.306 and $5.530.

At the time of publishing, Uniswap crypto (USD: UNI) was trading above the 50 and 200-day daily moving averages (DMAs), which are supporting the price trend. 

However, if more selling volume adds up then the price might conquer supporting SMAs by making lower highs and lows. Hence, the UNI price is expected to move downwards giving bearish views over the daily time frame chart.

Technical indicators suggest the downtrend momentum of the UNI crypto price. The relative strength index showcases the downtrend momentum of Uniswap crypto. RSI was at 46.56 and is heading towards the neutral to be oversold.

MACD exhibits the downside trend of UNI crypto price. The MACD line is below the signal line after a negative crossover. Investors in UNI crypto need to wait for any directional change over the daily time frame chart.

Summary

The daily time frame chart of the Uniswap cryptocurrency shows a negative trend according to the UNI price projection from the upper level. In order for UNI cryptocurrency to rebound and reach the upper levels, it needs more buyers. Moreover, the price of Uniswap fell by almost 10% over the past week. Technical indications point to the price of UNI cryptocurrency being in a downturn. Investors in Injective cryptocurrency must watch the daily time frame chart for any directional changes.

Technical Levels

Support Levels: $6.304.

Resistance Levels: $8.261.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.