https://ift.tt/3FZy0oY Price Analysis: UNI/USD diminishes from the $17 mark

TL;DR Breakdown

• Uniswap price analysis is bearish today.
• The strongest resistance is present at $19.789.
• The strongest support is present at $16.824.

Uniswap price prediction reveals that the market is currently following a massive downwards trend below the $17 mark and will likely maintain it. The price experienced a significant decline following its rise to the $20 mark on January 5, 2022, where the price went from $18.08 to $19.83. However, the cryptocurrency could not maintain its value and fell to $16.3 on the same day. On January 6, 2022, the price gradually increased to $17.1, only to suffer decline moments after. The price declined to $16.820 and has kept falling since then. The current price for UNI/USD is $16.820.

UNI/USD 4-hour price analysis: Bearish dynamics with bullish opportunity

The Uniswap price analysis indicates that market volatility is following a significantly increasing trend, making Uniswap prices more vulnerable to volatile changes. The upper limit of the Bollinger band is available at $19.78, which acts as the strongest resistance. The lower limit for the Bollinger band is available at $16.824, which serves as another point of resistance rather than support.

The UNI/USD price appears to be crossing under the lower limit of Bollinger’s band, indicating a breakout happening in the market. This observation leads to the deduction that the probability of a reverse trend occurring in the market has been significantly increased.

The UNI/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish trend. Bears are controlling the market right now, but the volatility has expanded significantly so that the direction could shift at any moment.

The Uniswap price analysis reveals that the Relative Strength Index (RSI) is 39, meaning UNI/USD shows no signs of being undervalued or overbought. The RSI can be seen following an upwards movement that reflects an inclining market trend and chances of recovery.

Uniswap price analysis for 1-day: UNI market indecisive about bullish and bearish

According to the Uniswap price analysis, market volatility is following a trend in decline, which means Uniswap prices are becoming less vulnerable to volatile changes. The upper limit of the Bollinger band is available at $19.7, which acts as the strongest resistance. The lower limit for the Bollinger band is available at $14.6, which serves as the strongest support.

The UNI/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish trend. The market has been observed to be indecisive about its trends. It had recently shifted from a bullish trend to a bearish trend.

TThe Uniswap price analysis reveals that the Relative Strength Index (RSI) is 46, signifying a stable value for the cryptocurrency. This means the value of Uniswap falls neither on the overvalued category nor the undervalued slot. The RSI can be seen following a stable straight path which means the price of Uniswap isn’t likely to fall on either extreme.

Uniswap Price Analysis Conclusion: Bears reclaim their throne

Concluding the Uniswap price analysis, we deduce that the bears have now reclaimed control of the market. If that keeps up, Uniswap price might undergo a significant decline than it already has. Uniswap has shown a rocky bearish movement with massive fluctuations in the past few days. The bulls need to up their game if they want to regain their momentum and raise the price of Uniswap. However, keeping in view all the facts and figures of the market, the bears still have the upper hand, but a trend shift is very likely.

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