The Uniswap price analysis shows the bearish momentum is speeding up once again. There has been a significant decline in price that occurred in the past week, and the trend has been the same for today as well. The price has dropped down to the $4.84 level today, causing substantial damage to the overall value of cryptocurrency. While the coin has been struggling to maintain its price levels since yesterday, there is a strong chance that the price will go further down.
UNI/USD 1-day price chart: Price on the downtrend again as bears intervene
The 1-day Uniswap price analysis shows that the bears have made a comeback after encountering the recent bullish move. The bulls tried to uplift the price yesterday, but bears have successfully been able to tackle their momentum and have once again secured their winning position. This price has undergone a decrease and is now present at the $4.84 level. Meanwhile, the moving average (MA) is higher than the price value, i.e., $5.13, because of the downtrends in the past weeks.
The volatility is high during the day as the Bollinger bands are expanded onto a larger area. This has led to the upper Bollinger band reaching a $5.98 value representing resistance and the lower Bollinger band reaching a $3.52 value representing support. The Relative Strength Index (RSI) is yet again confirming the downtrend as it has moved down to index 48 today, indicating the selling activity.
Uniswap price analysis: Recent developments and further technical indications
The bears are maintaining their lead quite impressively, as the price has undergone a decrease today as well. The price is now trading at the $4.84 level and is expected to go down from here soon. The short-term trending line is also moving downwards, which indicates a major bearish sign. The moving average is above the price level, i.e., at $4.86 as compared to the price level. At the same time, the Bollinger bands average is found resting at the $4.86 level also for today.
The volatility is decreasing, which might help in slowing down the downward price oscillation. This has resulted in the upper Bollinger band going to the $5 value and the lower Bollinger band reaching the $4.69 value after converging to a degree. The RSI score is also moving downwards below the centerline of the neutral range and is right now present at index 45.
Uniswap price analysis
The bears are winning the game at present, as can be confirmed from the one-day and 4-hour Uniswap price analysis. The Uniswap price has undergone a decline and has reached $4.84 value at the time of writing. The downtrend has been unchanging for the past few days, and it is assumed to extend in the future as well. The price is soon to cross the support level at $4.40 in the next trading session.
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Source: https://www.cryptopolitan.com/uniswap-price-analysis-2022-07-03/