Uniswap price analysis reveals that the market is following a negative trend below the $6 mark and is likely to remain today May 13, 2023. On May 11, 2023, the UNI/USD pairing displayed considerable upward momentum, with a significant price surge from $4.9 to $5.2. However, the subsequent day, May 12, 2023, witnessed a pronounced bearish trend in the cryptocurrency’s value, leading to a notable decline, settling at $5.1. It is anticipated that the price of Uniswap will maintain a range around the $5.5 mark until the beginning of June.
As of today, Uniswap’s price stands at $5.09, accompanied by a 24-hour trading volume of $192.18 million. The market capitalization of Uniswap is $2.94 billion, with a market dominance of 0.26%. Over the past 24 hours, the UNI price has increased by 0.15%. Currently, the sentiment for Uniswap’s price prediction is bearish, while the Fear & Greed Index reflects a neutral value of 48.
Uniswap’s circulating supply is currently 577.50 million UNI out of a maximum supply of 1.00 billion UNI. The yearly supply inflation rate stands at -16.41%, indicating that -113.34 million UNI were created in the past year. In terms of market capitalization, Uniswap is currently ranked #4 in the DeFi Coins sector, #3 in the Exchange Tokens sector, #1 in the Yield Farming sector, and #9 in the Ethereum ecosystem.
UNI/USD 24-hour price analysis: Latest developments
Uniswap price analysis reveals that market volatility is increasing, rendering Uniswap prices more vulnerable to abrupt and substantial fluctuations across the price range. The UNI cryptocurrency commenced trading at an open price of $5.11, reaching a high price of $5.11. Conversely, the lowest observed price for Uniswap presently stands at $5.09, indicating a change rate of -0.44%. Ultimately, the closing price settled at $5.09.
The ongoing price movement of UNI/USD is indicative of a bearish trend, characterized by a potential crossing below the Moving Average curve. However, it is important to highlight that the price of UNI/USD is also demonstrating a downward trend, indicating its inclination to approach the support band. This particular scenario presents the possibility of a breakout and introduces favorable circumstances for a market reversal.
Uniswap price analysis, the Relative Strength Index (RSI) is currently at 40, suggesting that UNI/USD is in a stable state and falls within the neutral center region. Furthermore, the RSI score is observed to be declining, indicating a decreasing market trend toward further devaluation. This decline in the RSI score is attributed to selling activity outweighing buying activity in the market.
Uniswap price analysis for 7-days
Uniswap price analysis indicates that market volatility is displaying a decreasing trend, suggesting that Uniswap prices are becoming less prone to sudden and significant fluctuations. Currently, the open price for Uniswap stands at $5.13, with the highest observed price reaching $5.15. Conversely, the low price is recorded at $5.08, representing a change rate of -0.88%. Finally, the closing price settles at $5.09.
Based on the Uniswap price analysis, the UNI/USD pair is currently displaying a bearish trend, characterized by the intersection of the price curve with the Moving Average in a downward direction. The price trajectory indicates a downward movement as it attempts to breach the market’s support level. This situation presents the potential for a market reversal if the support level is indeed broken.
Uniswap price analysis reveals the Relative Strength Index (RSI) of 40 suggests that the cryptocurrency has entered the neutral region, indicating a balance between buying and selling pressures. The observed decline in the RSI value indicates a potential downward trend in the market. If the RSI score continues to decrease, it may fall below the neutral threshold and move further into the devaluation region, indicating a strengthening downward trend. Furthermore, the decreasing RSI score suggests that selling activity currently outweighs buying activity in the market.
Uniswap Price Analysis Conclusion
According to the Uniswap price analysis, the current market trend is predominantly bearish, with selling pressure dominating. However, there are signs of a potential reversal as the bulls are making efforts to regain control. There is also a possibility of a significant upward movement in the UNI/USD price in the near future. Despite the recent bearish movement, the analysis of charts suggests a potential increase in value, offering some optimism for market participants.
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Source: https://www.cryptopolitan.com/uniswap-price-analysis-2023-05-13/