Uniswap price analysis shows a bearish trend that has brought the UNI/USD value down to $5.03. The market had a breakout to the upside that found resistance at $5.33, which has caused the market to roll over and head back down. The market is trading below the $5.50 level, which is a key support area that was broken yesterday. If the market can hold above the $5.00 level, there is a chance for the market to find support and move back up. However, if the market breaks below the $5.00 level, it is likely to head towards the $4.50 level.
The overall market for the UNI/USD pair is in decline as selling pressure intensifies.UNI/USD pair is showing a solid bearish momentum as the digital asset declined by nearly 4 percent in the last 24-hours. The pair had earlier spiked to $5.33 but failed to hold on to the gains and pulled back sharply. The market cap for the digital asset has also declined by over $600 million and is currently trading at $3,605,483,366, while the 24-hour trading volume is at $132,219,470.
Uniswap price on 1-day analysis: UNI/USD pair in a bearish trend
On the daily chart, Uniswap price analysis shows that the coin is following a clear downtrend as it has made lower lows and lower highs. The price is currently trading below the moving averages which indicates that the bearish momentum is still strong in the market. The RSI for the UNI/USD pair is currently at 32 which indicates that the asset is oversold in the market and a bounce is likely. The MACD for the UNI/USD pair is currently in the bearish zone with a weak signal line.
Uniswap price on 4-hour analysis: UNI/USD pair facing resistance at $5.33
On the 4-hour chart, Uniswap price analysis shows that the market has found some support at the $5.00 level after a bearish run that brought the price down from $5.33. The market is currently facing resistance at the $5.33 level, and if the market can break above this level, it is likely to head towards the $5.50 level. However, if the market fails to break above the $5.33 level, it is likely to head back down towards the $5.00 level.
The Moving Average Convergence Divergence (MACD) for the UNI/USD pair is currently below the zero line which indicates that the bearish momentum is still strong in the market. The RSI for the UNI/USD pair is currently at 39 which indicates that the market is neither overbought nor oversold. MA50 and MA200 are also heading towards the bearish crossover which is a further indication that the market is in a bearish trend.
Uniswap price conclusion
Uniswap price analysis indicates the current market is likely to continue its downward trend in the short term as the market has not yet found any significant support levels. The market is expected to find some support at the $5.00 level, but if the market breaks below this level, it is likely to head towards the $4.50 level but a further decline is possible if this level is breached.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Source: https://www.cryptopolitan.com/uniswap-price-analysis-2022-06-03/