Today Uniswap price analysis shows an increasing bearish tendency as the price has followed a descending movement in the last 24 hours. The price was on its way to recovery late yesterday, as more bullish activity was being preserved. But today, the bears have managed to create an impact on the market by bringing the price down to its former low i.e. $5.27 mark.
The overall market sentiment for UNI/USD is bearish as the price has been unable to climb above the $5.34 level. The support level has been established at $5.03, which is a level that the bulls have to break if they want to see any sort of growth in the UNI/USD price.
UNI/USD 1-day price chart: Cryptocurrency value depreciates up to $5.27
Cardano price analysis shows that the price has been following a decreasing trend for the past few couples of hours, with the strongest correction observed yesterday. However, bears tried to lower the price further below; although there have been instances where the bulls tried to take over the market, the overall trends have been in favor of the sellers. A slight decline in UNI/USD value has been recorded in the last 24 hours, as well as the price moving down to the $5.27 level, and the coin has been at a loss of two percent.
The 50-day moving average of the UNI/USD price is currently at $5.20, which is a level that the bulls have to break if they want to see any sort of growth in the UNI/USD price. while the 200-day moving average is at the $5.32 mark, which the bulls have to cross if they want to see any positive development in the UNI/USD price. The RSI indicator is currently at the 46.34 mark, indicating an increase in bearish sentiment. In addition, the MACD is currently at -0.078 level, indicating that the bears are currently in control of the market.
Uniswap price analysis 4-hour price chart: UNI/USD barely holds $5.27
Looking at the 4-hour Uniswap price analysis, we can see that the bulls have been trying to take over the market last recent hours. However, the bears have managed to keep a hold of the market, as the price has not been able to cross above the $5.30 level. The support level is established at $5.03 and the resistance level is currently at $5.34.
The RSI indicator is currently at the 32.56 mark, indicating a neutral trend in the market. The 50-day moving average of the UNI/USD price is currently at $5.20, while the 200-day moving average is at the $5.32 mark in the 4-hour time frame. The MACD indicator is currently at a -0.012 level, indicating that the bears are still in control of the market.
Uniswap price analysis conclusion
Overall, the Uniswap price analysis has been on a downward trend in the past few hours, with the bears managing to keep a hold of the market. The bulls have to break the $5.30 resistance level if they want to see any sort of increase in the UNI/USD price, however, this is unlikely to happen as the bears are still in control.
Source: https://www.cryptopolitan.com/uniswap-price-analysis-2022-12-20/