Uniswap Network crypto surged by 2.18% in market value and plummeted by 3.39% in trading volume in the last 24 hours. This is as per Coinmarketcap, a crypto data analysis website. Its market value is $2,783,719,725 and its trading volume is $75,565,446. There are 577,501,031 UNI in circulation.
The UNI crypto has not performed well in the last month, decreasing by 22.59% and plummeting by 31.71% in the last six months.
Uniswap crypto’s (UNI) open interest is $47398 Million. As per Coinglass, another crypto analysis website, it fell by 2.79% in the previous session. The long versus short ratio in Uniswap crypto for 24 hours is 0.8563.
Uniswap (UNI) has a fully diluted valuation of $4,804,474,587. This is a hypothetical market cap, assuming all 1 Billion UNI tokens are circulating today. This is as per the crypto data, information, and analysis website Coingecko. However, reaching the actual FDV in Uniswap may take years, depending on how the UNI tokens are distributed over time.
UNI Crypto Price Technical Analysis in the 1-Day Timeframe
The price action shows that Uniswap crypto ( BITSTAMP: UNI) price took support at $3.673 as liquidity was present at this level, the price showed a swift uptrend and reached a high at $6.513 by August 2nd, 2023. Thereafter, Uniswap faced resistance in the last week and traded lower and the CMP is falling even lower.
At the time of publication, the UNI crypto’s current price is trading around $4.798 and might decline lower and reach the demand zone where liquidity is present in the Uniswap crypto, where buyers most probably have pending buy or sell orders in the Uniswap crypto waiting to be triggered, either Uniswap price will consume liquidity and crash or it’ll take support and ascend in upcoming weeks.
Therefore, the UNI crypto price could continue to move downwards and reach the nearest support at $4.537 and $3.673. If it fails to sustain the current level in Uniswap.
However, if the UNI crypto price sustains the current level and increases, then it might hit the nearest resistance levels of $5.507 and $6.513.
At the time of publishing, the UNI crypto price (BITSTAMP: UNI) is trading beneath the 20, 50, 100, and 200-day exponential moving averages, which are declining the UNI crypto price trend.
Hence, UNI crypto price prediction estimates the prices to move downwards, indicating a bearish outlook over the daily time frame chart for its price.
The MACD line at 0.26549 and the signal line at 0.10161 is below the zero line both lines crossed each other and a bearish crossover is observed in the MACD oscillator, suggesting bearish signals. The current value of the RSI is 27.48 points and the 14-day SMA is below the median line at 44.05 points, which indicates bearish sentiments as RSI took rejection on the 14 SMA line and headed for the oversold zone and highlighting bearishness in the market for the Uniswap price.
Conclusion
UNI crypto price prediction highlights the bearish sentiments and perspectives of investors and traders regarding UNI crypto in the daily(1-D) time frame. Uniswap price action highlights a downward view at the time of publishing. Moreover, the most sought and reliable technical parameters such as RSI, MACD, and EMA for the Uniswap price hint at the continuation of the downtrend over the daily time frame chart and gives negative signals regarding the UNI crypto price.
Technical Levels:
- Support levels: The nearest support levels are $4.537 and $3.673.
- Resistance levels: The nearest resistance levels are $5.507 and $6.513.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/08/21/uni-price-forecast-2023-can-uniswap-bitstamp-uni-comeback/