Uniswap Price Analysis: UNI/USD bearish at $15.77

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According to Uniswap price analysis, the market is currently in a significant downward trend below $16 and is expected to continue. Following its rise to $16 on January 8, 2022, when the price went from $15.6 to $16.1, the currency lost value rapidly and fell to $14.5 on the same day. On January 9, 2022, the price rose gradually until reaching $15.3, which is where UNI/USD trades today.

Uniswap Technical Analysis Uniswap has been trading between 50 and 100 SMA since the beginning of the year. The price jumped above 100 SMA on January .8 before falling below it on January 9, 2022. Since then, the market has been trading between 50 and 100 SMA. However, at 11:00 UTC today, UNI/USD broke out of 50 SMA to reach highs of $16.1, where the market closed for the day. A bullish cross of indicators preceded this high on January 8, 2022.

Uniswap Price Analysis According to Uniswap price analysis, the downward trend is very strong today due to low liquidity levels, lack of buyers, and a selloff in the overall cryptocurrency market. These bearish conditions indicate that the price will likely fall to $14.6, which is also where the strongest support lies.

Uniswap, as an exchange implemented on the Ethereum blockchain protocol, is a decentralized and, at the same time, autonomous smart contract technological solution for trading ERC20 tokens. It has been recently introduced to the cryptocurrency community and gained huge popularity because of its unique approach towards providing liquidity to ERC20 tokens and its absence of fees.

UNI/USD 4-hour price analysis: Closing volatility with bullish opportunities

The Uniswap price analysis shows that market volatility is declining, making Uniswap prices less susceptible to volatile changes. The Bollinger’s band has an upper limit of $17.2, which is a barrier for UNI. The lower range of the band is at $11.9. The price of UNI/USD is expected to rise within these boundaries soon, potentially reaching $23 by February 1, 2022.

The UNI/USD pair is currently under the Moving Average curve, suggesting that the market is in a bearish trend. The price path of the UNI/USD appears to be rising, which might signal a reversal if it can cross over the Moving Average curve.

Uniswap Price Analysis: UNI/USD bearish at $15.77 1

UNI/USD 4-hour price chart source: Trading view

The Uniswap price analysis shows that the Relative Strength Index (RSI) is 38, indicating that UNI/USD is neither undervalued nor overbought. The RSI score appears to be continuing its upward trend due to buying activity outweighing selling activity.

Uniswap Price Analysis: Conclusion

Concluding the Uniswap price analysis, the price of Uniswap is $15.77, moving further downward today. UNI/USD has been trading between 50 and 100 SMA with no signs of either side gaining dominance over the other one. Uniswap will likely continue its downward trend as low liquidity levels, lack of buyers, and a selloff in the general cryptocurrency market make it more susceptible to bearish influence.

Source: https://www.cryptopolitan.com

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