Uniswap price analysis is bearish as the cryptocurrency has experienced a fluctuating movement in the past few days. Bulls are trying to engulf the market as all their efforts are in vain, and the coin value fell from $6.52 and capped at $5.94; bears continue to rule the market today; however, a price decline is imminent. The market has shown bearish possibilities.
The Coin is trading at $5.94 with a decrease of $8.30 percent at the time of writing. The market cap for the digital asset is currently at $4,524,487,542, which is ranked at the 17th position in the overall market, and the trading volume in the last 24 hours is $152,113,738.
UNI/USD 1-day price chart: Bulls washed out as price continues sinking
The one-day Uniswap price analysis is going in the bearish direction again after a successive downtrend. The price has decreased up to $5.94 today, which is quite low for cryptocurrency. Further decrease in price levels is to be expected as the bearish momentum is strengthening with time. Other important indicators include the moving average (MA), which is settled at the $3.80 position for the day.
The volatility is high, and the Bollinger bands’ values have changed as well. Now, the upper value is trading at $6.96, while the lower value is found at $5.81. The Relative Strength Index (RSI) level has also reduced drastically in the current situation as well and has moved down to index 48.72, indicating strong selling activity in the market.
Uniswap price analysis: Recent developments and further technical indications
The 4-hour Uniswap price analysis is following the bearish trend as well as the price continues to be downgraded. The price levels are going down after being on a bearish trend for the last 28 hours. Currently, the price is settled at the $5.94 mark and is expected to go further down from here as no bullish activity has been observed today. The moving average is still quite low, i.e., $6.23, because of the constant price devaluation.
The Bollinger bands have expanded further apart, hinting at the volatility towards the increasing side as the upper Bollinger band has reached $6.38, and the lower Bollinger band is at the $51.26 mark. The price level has sunk below the lower band of the indicator showing a strong bearish grip over the market. The RSI score is going down as well because of the downtrend and has steeped into the underbought region at an index of 51.24.
Uniswap price analysis conclusion
Uniswap price analysis suggests the price is going down today as it has reached the $5.94 level during the last 24 hours. Prices have recently found support at the $5.92 level as buyers step in to defend this key level. The market is highly volatile as prices fluctuate in a wide range. The bulls are seen to be stumbling to defend the $6.52 level as selling pressure intensifies. The bears are seen to be in control of the market as they aim to push prices lower.
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Source: https://www.cryptopolitan.com/uniswap-price-analysis-2022-10-21/