Bearish swing corrects UNI down to $6.59 – Cryptopolitan

The Uniswap price analysis reveals that the market for UNI has been trading in negative territory for the past few days. The bulls were able to push the price above $7.15 the previous week, but could not sustain at that level as strong resistance is found at around $7.00. The bears have taken control of the market and pushed UNI down to a low of $6.59 in just two days’ time.

However, there is some support present for UNI/USD at around the $6.50 level and the bulls are trying to make a comeback in order to push prices above this region. If they succeed, then UNI could go up towards its previous high of $7.00 again and even beyond that.

Uniswap price analysis 1-day price chart: UNI levels stumbling again

The one-day Uniswap price analysis shows a decrease in the coin value after the bearish return. The bears have made a successful attempt at making a comeback, as the price has decreased up to $6.59 today. Although the past week hindered bullish price movement, as the UNI/USD has been at a loss of 4.07 percent over the last seven days, the situation has been the same today.

The trading volume is currently at $101,273,442, and the market capitalization is now at $5 billion. The moving average (MA) value is present at $6.92, still a little lower as compared to the current price. The Relative Strength Index (RSI) has decreased up to index 47.70 as well, which indicates negative market sentiment for UNI today. However, the RSI is still in a good neutral position. The MACD level is also at a bearish position, which suggests that the current price correction could continue.

Uniswap price analysis 4-hour chart: Recent updates

The four-hour Uniswap price analysis confirms the downtrend for today. The price has gone through a steady decline at the start of the trading session, after which the bulls tried to make a comeback but were rejected soon, and the price has been recorded stumbling down again in the last four hours as well. At the same time, the price oscillation has been slow since late at night, which is confirmed by the size of the last two candlesticks, which are quite small.

Moreover, the moving average value for the four hours price chart is now settled at $6.73. The RSI has gone down to index of 38.79, still at a good neutral position. The MACD level is also at bearish positioning and the histogram value is currently decreasing too, which suggests that the market sentiment could remain in favor of the bears for some time.

Uniswap price analysis conclusion

The Uniswap price analysis is dictating a decrease in price up to $6.59. The bullish momentum has subsided, as now the bears are leading the game. The bearish momentum is aggravating, and the support present at $6.50 is still quite low compared to the current price level. However, UNI/USD price may observe a slight reversal at the said support zone.