Uniswap

<p>The recent <a href="https://www.cryptopolitan.com/uniswap-price-prediction/?swcfpc=1">Uniswap</a> price analysis shows a bearish drift after a brief period of consolidation, as the price dropped from around $5.59 to its current level of $5.51. Bullish efforts observed during this time were weak and could not sustain the bearish pressure. The selling pressure is mainly attributed to the bears that are driven by weak demand.</p>



<p>The support level for the UNI/USD pair is present at $5.46 while the resistance level is present at $5.59. If the price breaks above the resistance level, bullish momentum may be seen in UNI. On the other hand, if the support level holds, then UNI will continue trading in a sideways range between these two levels and any further bearish pressure could result in a further decline for UNI.</p>



<h2 id="uniswap-price-analysis-daily-chart-bulls-to-hold-on-to-5-46-support">Uniswap price analysis daily chart: Bulls to hold on to $5.46 support</h2>



<p>The one-day Uniswap price analysis confirms a strong bearish trend for today as the coin value has undergone a considerable decline during the last 24 hours. The selling pressure remained persistent throughout the last few hours. currently, the market is again in support of the bears as the price has decreased up to the $5.51 level. In this way, it has reached near the lower limit of the volatility indicator again, and the moving average (MA) has been left far below, which is currently $5.49.</p>



<figure class="wp-block-image size-full"><img width="955" height="622" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-682.png" alt="image 682" class="wp-image-296703" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-682.png 955w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-682-300x195.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-682-768x500.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-682-24x16.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-682-36x23.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-682-48x31.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-682-150x98.png 150w" sizes="(max-width: 955px) 100vw, 955px" /><figcaption>UNI/USD 24-hour price chart. Source: <a href="https://www.tradingview.com/chart/OrUePTa1/?symbol=COINBASE%3AUNIUSD" target="_blank" rel="noopener">TradingView</a></figcaption></figure>



<p>The volatility is low and the Bollinger bands are stretching, indicating that a breakout either way is possible. The upper Bollinger band is located at $6.52, and the lower Bollinger band is located at $5.14. The Relative Strength Index (RSI) score has reached index 41.62 and might soon enter the oversold zone as well if the selling pressure continues.</p>



<h2 id="uniswap-price-analysis-recent-developments-and-further-technical-indications">Uniswap price analysis: Recent developments and further technical indications</h2>



<p>The hourly Uniswap price analysis shows a dramatic drop in price levels which intensified during the last four hours. The price breakdown was also downwards today, but bulls also tried to make a comeback late in the afternoon but were rejected after minimal efforts. A sharp decrease in price levels has been observed just recently as bears crashed the price down to $5.51. This sharp decline has come after prolonged efforts to maintain the price levels of the coin.</p>



<figure class="wp-block-image size-full"><img loading="lazy" width="952" height="613" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-683.png" alt="image 683" class="wp-image-296704" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-683.png 952w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-683-300x193.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-683-768x495.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-683-24x15.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-683-36x23.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-683-48x31.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-683-150x97.png 150w" sizes="(max-width: 952px) 100vw, 952px" /><figcaption>UNI/USD 4-hour price chart. Source: <a href="https://www.tradingview.com/chart/OrUePTa1/?symbol=COINBASE%3AUNIUSD" target="_blank" rel="noopener">TradingView</a></figcaption></figure>



<p>The volatility is slowly decreasing on the 4-hour chart as the upper curve of the Bollinger bands is now converging downwards at the $ 5.64 mark. At the same time, the lower band is maintaining its position at the $5.29 mark below the price level. The RSI is also at a steep downward curve at the 52.00 mark which could indicate a possible bearish trend and further selling pressure. The moving average indicator is also showing signs of a bearish downtrend, as the coins are below the $5.52 mark.</p>



<h2 id="uniswap-price-analysis-conclusion">Uniswap price analysis conclusion</h2>



<p>Overall, Uniswap prices have taken a downtrend and bears remain in control of the market currently. The UNI/USD pair is trading at the support level of $5.46 and if bulls manage to gain some traction, then we may see a rise in prices up to the resistance level of $5.59. The current market conditions suggest that the price will remain range-bound for now and further bearish pressure could lead to a further decline in price.</p>

Uniswap price analysis: UNI takes a downtrend at $5.51 after a bearish drift

Table of Contents

Cryptopolitan_News

Other articles published on Apr 28, 2023

Assessing Gaming dApps’ Popularity Amid Broader Market Drawdown

SEC’s Gary Gensler Takes Another Swipe at Crypto in Educational Video

Hamas’ Armed Wing to Stop Accepting Bitcoin Donations (Report)

Crypto trader loses over $500,000 due to high leverage on GMX platform

Bitcoin Miner Greenidge Eyes Expansion With Core Scientific Collaboration

Robinhood Connect to Allow Access from External Crypto Wallets

Join our free newsletter for daily crypto updates!