Uniswap price analysis reveals that the market is following a negative trend below the $7 mark and is likely to remain. UNI/USD had tremendous momentum the previous day, August 21, 2022, when the price went significantly from $6.7 to $7.2. However, the cryptocurrency continued to decline today, on August 22, 2022, showing solid bearish momentum; currently, the UNI price is $6.8. Uniswap has been down 4.21% in the last 24 hours, with a trading volume of $155,108,488 and a live market cap of $5,099,694,766. UNI ranks at #18 in the cryptocurrency rankings.
UNI/USD 4-hour price analysis: Latest developments
Uniswap price analysis indicates that market volatility follows a decreasing trend, making Uniswap prices less vulnerable to volatile changes on either extreme. The Bollinger’s band’s upper limit is $7.3, which acts as the most substantial resistance for UNI. Conversely, the lower limit for the Bollinger’s band is available at $6.8, which serves as a point of support for UNI.
The UNI/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish trend. Furthermore, the UNI/USD price path is moving downwards, attempting to break the support band, indicating breakout potential and reversal opportunities.
Uniswap price analysis reveals that the Relative Strength Index (RSI) is 33, meaning UNI/USD is undervalued and falls in the devaluation region. Furthermore, the RSI score appears to be following a linear movement signifying a consistent market trend towards further stability. The RSI score remains constant because the selling activity is equal to the buying activity in the market. However, this trend is not expected to last too long.
Uniswap price analysis for 1-day
According to the Uniswap price analysis, market volatility follows a trend of an increasing movement, which means Uniswap prices are becoming more vulnerable to volatile changes. The upper limit of the Bollinger’s band is available at $9.9, which acts as the strongest resistance for UNI. Conversely, the lower limit for the Bollinger’s band is available at $6.7, which serves as the strongest support for UNI.
The UNI/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish trend. The price path traces a downwards movement attempting to break the support of the market, which will initiate a reversal if it comes into action.
Uniswap price analysis reveals that the Relative Strength Index (RSI) is 37, signifying the cryptocurrency has entered the devaluation domain. Furthermore, the RSI appears to be following a downward path indicating a declining market, and the price may soon fall under the neutral threshold and further into the devaluation region. This also signifies that the selling activity is dormant in the market.
Uniswap Price Analysis Conclusion
In conclusion, Uniswap price analysis deduces that the bears are currently controlling the market, but the bulls are trying hard for a comeback. A reverse trend is probable as the RSI score is expected to crash below the devaluation region. UNI/USD might undergo a significant incline in the coming days. The cryptocurrency has displayed a solid bearish movement in the past few days. Still, finally, the figures and observations from the charts show us some hope for the cryptocurrency to increase in value.
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Source: https://www.cryptopolitan.com/uniswap-price-analysis-2022-08-22/