Is UNI Price Ready to Take Reversal Above $4.03?

The price action of the Uniswap crypto showed that selling pressure was noted on the charts and was in a downtrend, forming lower lows over the past few months. Moreover, due to declining investor interest, trading volume was below average.

The ongoing trend favors bears, and the crypto was also in a corrective phase, which made buyers cautious. Moreover, Uniswap is below the significant moving averages and tries to attain the 50-day EMA to hold the gains.

At the time of writing, the Uniswap price is trading at $4.263 with an intraday drop of 0.40%, showing a bounce from the lower trendline near the support mark of $3.612. Moreover, the intraday trading volume is $78.666 Million and the market cap is $2.462 Billion.

UNI crypto has shown poor performance over the years. Year-to-date, the returns were -17.38%; and -29.70% in a span of 6 months. In the last 1 month, the returns were -8.64%; and -2.34% in the last seven days, indicating a long Bearish trend continuing till now.

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

At the time of publishing, Uniswap crypto (USD: UNI) is trading above the 50 and 200-day SMAs (simple moving averages), which do not support the price trend. The current value of RSI is 41.14 points. The 14 SMA is below the median line at 40.55 points which indicates that the Uniswap crypto is bearish.

The MACD line at -0.104 and the signal line at -0.132 are above the zero line. A bullish crossover is observed in the MACD which signals strength for the UNI crypto price.

4 Hour Time Frame Technical Evaluation

On the 4-hour charts, the Uniswap price is stuck in a narrow range and did not signal a rise because of low volume levels. Moreover, a key indicator is still in the neutral range and does not signal bullishness. The RSI curve is near 48 in the neutral range and showed a narrow consolidation phase on the short-term charts.

The MACD shows green bars on the histogram with a bullish crossover, but did not show any substantial upswing.

Summary

Uniswap (USD: UNI) technical oscillators also support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the UNI crypto price. Uniswap price action suggests that the investors and traders are bearish on the 1-D time frame.

Technical Levels

Support Levels: $4.037 and $3.612.
Resistance Levels: $5.301 and $6.693.

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