Uniswap price analysis reveals that the market is following a negative trend below the $7.2 mark and is likely to remain there. UNI/USD lost tremendous momentum the previous day, August 18, 2022, when the price crashed significantly from $8.1 to $7.1. Moreover, the cryptocurrency continued to decline today, on August 19, 2022, showing further solid bearish momentum; currently, the UNI price is $7.12. Uniswap has been down 11.58% in the last 24 hours, with a trading volume of $229,782,347 and a live market cap of $5,286,563,104. UNI ranks at #18 in the cryptocurrency rankings.
UNI/USD 4-hour price analysis: Latest developments
Uniswap price analysis indicates that market volatility follows an increasing trend, making Uniswap prices more vulnerable to volatile changes on either extreme. The Bollinger’s band’s upper limit is $8.8, which acts as the most substantial resistance for UNI. Conversely, the lower limit for the Bollinger’s band is available at $7.14, which serves as another resistance point 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 upwards, attempting to cross the support, indicating bullish potential and reversal opportunities. The market suffers a complete breakout.
Uniswap price analysis reveals that the Relative Strength Index (RSI) is 24, meaning UNI/USD is undervalued and falls in the devaluation region. Furthermore, the RSI score appears to be following an upward movement signifying an inclining market trend towards further value increase. The RSI score increases because the buying activity is dominant 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 a significantly increasing movement, which means Uniswap prices are becoming more vulnerable to volatile changes. The Bollinger’s band’s upper limit is $9.6, which acts as the strongest resistance for UNI. Conversely, the lower limit for the Bollinger’s band is available at $7.5, which serves as another resistance point 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 breaking the support of the market, which will initiate a reversal in the coming days.
Uniswap price analysis reveals that the Relative Strength Index (RSI) is 38, signifying the cryptocurrency has exited the lower-neutral 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. As a result, UNI/USD might undergo a significant incline in the coming days. The cryptocurrency has displayed a solid bearish movement in the past few days. The market appears to be in full breakout today and will probably reverse in the coming days, hence showing hope for the bulls.
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Source: https://www.cryptopolitan.com/uniswap-price-analysis-2022-08-19/