The most recent Uniswap price analysis confirms a decreasing trend for cryptocurrency today as the coin value has degraded. The market has been following a bearish trend after reaching a high of $7.75 in the last 4-hours, with resistance currently present at $7.74 for UNI/USD pairs. Support for the coin is present at $7.41 but has been decreasing steadily.
The bulls were in control of the mark from the start of today and the previous week, However, this bullish momentum was short-lived as the bears took control and caused UNI to crash to its current value of $7.48.
Uniswap price analysis for 1 day: UNI/USD market closes
The one-day Uniswap price analysis confirms a strong bearish trend for today as the coin value has undergone a considerable decline during the last 24 hours. The selling pressure from the bears pushed UNI/USD from a high of $7.75 to its current value of $7.48. The market saw some bullish movement in the beginning, but this was quickly overtaken by the bearish pressure as the day progressed. The Bollinger bands are expanding, with the upper band going to $7.72 and the lower band going to $5.82.
The UNI/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish movement. However, the price path can be seen following a downward movement, indicating a decreasing market for UNI. Uniswap price analysis shows that the Relative Strength Index (RSI) is 60.26, signifying an overbought sign for UNI. Unfortunately, this means that the cryptocurrency falls in the underbought region.
Uniswap price analysis 4-hour price chart: Latest developments
The hourly Uniswap price analysis shows a drop in price levels which intensified during the last four hours. The price breakdown was also downwards today, but bulls also tried to make a comeback late today but were rejected after minimal efforts. A sharp decrease in price levels has been observed just recently as bears crashed the price down to $7.48. This sharp decline has come after prolonged efforts to maintain the price levels of the coin.
The Moving Average on the 4-hour chart indicates bearish crossovers, with MA sitting at $7.74 as the price continues to decrease below these levels. The Relative Strength Index (RSI) for UNI/USD is at 62.16. The upper Bollinger band is at $7.94 and the lower band sits at $6.98.
price analysis conclusion
The bears have taken over the market, as confirmed by the above daily and hourly Uniswap price analysis. An overpowering bearish wave dominated the market in the past 24 hours as well, and the price has stooped down to $7.48. The selling pressure can be expected to intensify in the upcoming hours.
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.
Source: https://www.cryptopolitan.com/uniswap-price-analysis-2022-11-06/