Can UNI Crypto Hold Above $5?

The Uniswap crypto price is facing strong bearish pressure on the daily technical charts, as it is trading below the 50 and 100-day EMA. The crypto has failed to break above its key resistance levels near the EMAs in the past few months, despite several attempts by buyers.

The crypto is currently trading near $6.02000, with a slight gain of 0.87% in the intraday session. The crypto has a potential upside target of $8, but it needs to overcome the bearish momentum and rise above the 50-day EMA. UNI has a support level of $5.72, which could stop further downside.

The Uniswap price prediction suggests that the crypto is in the tight grip of the bears and needs to show some signs of reversal before confirming a bearish trend.

The technical indicators favor the bears, projecting a pessimistic perspective for the buyers. Yjr RSI and stochastic RSI oscillators are moving near the overbought zone whereas the major EMA lines act as barrier points for yjr UNI price.

The company’s performance was not good throughout the year. It has suffered negative returns of 17.60% in the year-to-date period, 0.81% in the last six months, 5.41% in the last month, and gained 1.31% in the last week. This shows a persistent bearish trend that has not reversed yet.

Technical Analysis of Uniswap Crypto Price in 1-D Timeframe

The Uniswap crypto(USD: UNI) is trading under the 50 and 100-day DMAs (Daily moving averages), which do not support the price trend. The current value of RSI is 45.74 points. The 14 SMA is above the median line at 44.25 points which indicates that the Uniswap crypto is bearish.

The MACD line at -0.10989 and the signal line at -0.12358 are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the UNI crypto price.

Summary

The technical oscillators also support the bearish trend for the Uniswap crypto. The MACD, RSI, and the EMAs are emphasizing negative signs and imply that the downtrend may continue. The price action suggests that the investors and traders are bearish on the one-day time frame. Overall, the price action reflects a bearish perspective at the moment.

Technical Levels

Support Level: The Uniswap crypto price may find support at $5.72812, where it could bounce back or stabilize.

Resistance level: The UNI crypto price may face resistance at $7.05, where it could reverse or consolidate.

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.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.