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Uniswap price analysis: Bullish momentum deflates as bears pierce through $31

Cryptopolitan


TL;DR Breakdown

  • The latest Uniswap price analysis is showing a decrease in price.
  • Bearish momentum has taken price down to $30.
  • Resistance yet again remains untouched at $31.

The Uniswap price analysis is going bearish for the day, as the bears have succeeded in creating a way through the bullish momentum. The Bearish momentum has been considerable enough to lower the price levels to the value of $30.

The past few hours had been exceedingly successful for the bulls, as the uptrend was huge and casted positive results on the overall value of cryptocurrency. Yet, the most recent progress is going in the favor of the bears as observed from the price charts.

UNI/USD 1-day price chart: Price on way to breach past the $31 hurdle

The 1-day UNI/USD price chart is detecting a sudden rise in the price today, as the price levels have almost reached above $30. The past week has been unpredictable for the cryptocurrency, as there has been bearish control over the charts.

But, today’s trend is going in the favor of bulls, and it is expected that the uprising bullish momentum will intensify even further. The Moving Average (MA) value i.e. $28 has also been crossed by today’s price value.

UNI/USD 1-day price chart. Source: TradingView

The volatility, on the other hand, is on the increasing side which is not a positive indication for the future. The Bollinger bands are also important in determining the trends, and currently, their upper value is resting at $31 and the lower at $25.2. The Relative Strength Index (RSI) score has also increased up to 62.18 today.

Uniswap price analysis: Bearish momentum interrupts the bullish progression

The 4-hours Uniswap price analysis is supportive for the bears today, as the price has downgraded to $30 according to the latest update. The past week has been highly successful for the bulls, yet today the trends have reversed in the favor of the bears.

The moving average is still below the price value and is at $29.33 whereas, the Bollinger bands average is also set at $28 in the 4-hours price chart.

Uniswap price analysis: Bullish momentum deflates as bears pierce through $31 2
UNI/USD 4-hours price chart. Source: TradingView

Furthermore, the upper Bollinger band is showing us the value of $31 while the lower band is showing us the exact value of $25. Meanwhile, as the short-term trending line is in the favor of the bulls, so is the RSI score near the over-bought mark i.e. 69.

Uniswap price analysis: Bullish momentum deflates as bears pierce through $31 3
UNI/USD technical indicators chart. Source: TradingView

The following UNI/USD technical indicators chart is further confirming the general trends observed during the day. Overall, the day has been more supportive towards the bulls, as the technical indicators chart is showing a bullish signal.

There are 15 indicators that are present at the buying position, nine at the neutral, and the remaining two indicators are at the selling position.

The Moving Averages indicator tells us about the general trends that have taken place during the week. The average has been going strong, which is why it is showing a bullish indication, with 14 indicators at the buying, one at neutral, and none at the selling point.

The Oscillators are also going neutral for the day, as both the buyers and the sellers are competing to win over the market trend. There are eight oscillators at the neutral position, two at the selling, and only one oscillator at the buying position.

Uniswap price analysis conclusion

The 1-day and 4-hours Uniswap price analysis are confirming that the most recent trend has been bearish, which has resulted in a decrease in price.

The price has lowered up to $30.1, which is a very low value if compared to its position in the past few hours. Yet, the support level at $25 is quite strong, and there is little possibility that the price will go lower than the support, as the bulls have been stronger previously.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



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