https://ift.tt/yb80TOI bearish for the next 24 hours

TL;DR Breakdown

• Price experienced a fall up to $10.97.
• Uniswap price analysis is bearish today
• UNI/USD pair is currently trading at $10.43.

The UNI/USD pair started today at a price of $10.43 by midday the price was $9.88, marking a loss of 10.65 percent. The significant fall in price from above to below the opening price was the result of the current bearish market sentiment towards cryptocurrencies overall. From yesterday’s market analysis, we can see that the price experienced a boost during the day after opening at $10.97 and experiencing an increase to $11.54, but this was not sustained as it quickly fell back to below $11.00 towards the end of the day.

Price experienced a fall up to $10.97. then started recovering & now currently trading at $10.43. UNI/USD pair is currently trading at $10.43 which tells us that it will slide further down until it finds support in the long term.

UNI/USD 1-day price chart: Bulls struggle against heavy bearish pressure

The Uniswap price analysis reveals a downturn in UNI/USD. After reaching an all-time high of $14.92 not long ago, the cryptocurrency has dropped to a low of $10.97. Despite the fact that support is expected to be formed at this price level, dubbed “extreme,” there is currently no way to tell how long it will take for this to occur.

The UNI/USD pair is currently trading at $10.43 which tells us that it will slide further down until it finds support in the long term. The cryptocurrency has traded within the range of $15.00 to $11.54 today but has still not found the strength to break out of it.

Algorand price analysis: ALGO/USD bullish for the next 24 hours

The chart shows a number of failed attempts by the bulls at pushing prices above $11.25. Although this is not an established support level, the current price indicator suggests that the bulls will be very difficult to push prices higher.

The short-term UNI/USD price analysis differs from the long-term one in that it is more focused on the near term. It’s conceivable that a trend reversal is on the way in this scenario. Despite breaching resistance at $11.25, for now, it may return in the future or at least be significant enough for bulls to push prices higher.

UNI/USD 4- hour price analysis: Bears maintain downward trajectory as bulls fail to push prices upwards

The MACD graph on the 4-hour time frame indicates that bearish pressure remains strong in this market. Following a series of failed attempts by the bulls to gain momentum and push prices higher, the indicator shows a continuous decline in value, which typically results in continued declines unless they are stopped by significant support levels breaking through.

Although the bulls have made multiple attempts to push prices higher, it has mostly been futile. Instead of going up, bears have overwhelmed them and pushed prices further down to reach $11.9 extreme. This points out that a bearish influence is very strong at this point and that it would rather pull prices downwards than let them go up against their will.

Uniswap price analysis: Conclusion

The price of UNI is now in a very uncertain period, with no way to know which direction trading will take or how long this condition will last. Because there are no favorable signals on the horizon according to current technical analysis, it may be prudent for people who own tokens in either platform to wait before taking any new positions.

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