Reading 3 min Views 4 Published Updated
According to the Uniswap (UNI) price chart, the coin is moving sideways on the chart. When the market opened, the price dropped to $5.30 where UNI found no support.
The bulls are trying to regain control, but the selling pressure is quite strong. The coin began to show bearish momentum after April 19, 2023, when the chart saw sharp crashes. As of today, May 2, it has continued its bearish trend.
UNI Price Dynamics in April
Uniswap opened in April at $6.0603 and traded at about the same price level early the next day before recording a pullback to $5.9461 at the market close. Fortunately, on April 4, UNI regained its ground above $6.
Related Reading: Terra Classic’s Recent Efforts May Benefit LUNC’s Growth Potential
UNI maintained the same price level from April 4 to April 7 before dropping to $5.9191 on April 8. Fortunately, the price drop lasted only 5 days. By the close of the market on April 13, UNI was back above $6.
It stayed at that level until April 20, when it lost control, dropping into the $5 price range and continuing until today, May 2.
The price of UNI falls on the l UNIUSDT chart on Tradingview.com
Can Uniswap (UNI) recover from this downturn?
Uniswap is priced at $5.31 as of today, May 2, 2023, indicating a loss of 1.74%. In addition, its market capitalization was down 2.05% to $3.06 billion, while UNI’s 24-hour trading volume was down 26.90% to $33 million.
Uniswap’s 1-day price chart for price analysis shows that UNI bulls are doing their best to control the price decline. However, the bears are still in control of today’s price trend. But despite the selling pressure today, UNI/USD is only down 1.74% in the last 24 hours.
The price of UNI is in an area where investors or traders are afraid to buy UNI and holders are likely to sell due to the current market sentiment. Thus, the downtrend may continue unless the bulls regain bullish momentum.
Key UNI price levels
Based on today’s Uniswap chart, the coin directly supports $4,628. If the bears continue this momentum, the next significant level would be $3.341. The coin will have trouble breaking the $7,761 resistance level with such low momentum.
Since April 18, 2023, when the price of Uniswap fell below the 50-day SMA, this indicator has indicated a SELL signal.
Uniswap is also trading below the 200-day SMA. As of April 18, 2023, the 200-day SMA indicates a SELL for the previous 13 days. The Relative Strength Index (RSI) momentum oscillator is at 38.58, which shows UNI is neutral.
The MACD line is also below the signal line and is trading in a downtrend, indicating a bearish move.
Featured image from Pixabay and chart from Tradingview
Reading 3 min Views 4 Published Updated
According to the Uniswap (UNI) price chart, the coin is moving sideways on the chart. When the market opened, the price dropped to $5.30 where UNI found no support.
The bulls are trying to regain control, but the selling pressure is quite strong. The coin began to show bearish momentum after April 19, 2023, when the chart saw sharp crashes. As of today, May 2, it has continued its bearish trend.
UNI Price Dynamics in April
Uniswap opened in April at $6.0603 and traded at about the same price level early the next day before recording a pullback to $5.9461 at the market close. Fortunately, on April 4, UNI regained its ground above $6.
Related Reading: Terra Classic’s Recent Efforts May Benefit LUNC’s Growth Potential
UNI maintained the same price level from April 4 to April 7 before dropping to $5.9191 on April 8. Fortunately, the price drop lasted only 5 days. By the close of the market on April 13, UNI was back above $6.
It stayed at that level until April 20, when it lost control, dropping into the $5 price range and continuing until today, May 2.
The price of UNI falls on the l UNIUSDT chart on Tradingview.com
Can Uniswap (UNI) recover from this downturn?
Uniswap is priced at $5.31 as of today, May 2, 2023, indicating a loss of 1.74%. In addition, its market capitalization was down 2.05% to $3.06 billion, while UNI’s 24-hour trading volume was down 26.90% to $33 million.
Uniswap’s 1-day price chart for price analysis shows that UNI bulls are doing their best to control the price decline. However, the bears are still in control of today’s price trend. But despite the selling pressure today, UNI/USD is only down 1.74% in the last 24 hours.
The price of UNI is in an area where investors or traders are afraid to buy UNI and holders are likely to sell due to the current market sentiment. Thus, the downtrend may continue unless the bulls regain bullish momentum.
Key UNI price levels
Based on today’s Uniswap chart, the coin directly supports $4,628. If the bears continue this momentum, the next significant level would be $3.341. The coin will have trouble breaking the $7,761 resistance level with such low momentum.
Since April 18, 2023, when the price of Uniswap fell below the 50-day SMA, this indicator has indicated a SELL signal.
Uniswap is also trading below the 200-day SMA. As of April 18, 2023, the 200-day SMA indicates a SELL for the previous 13 days. The Relative Strength Index (RSI) momentum oscillator is at 38.58, which shows UNI is neutral.
The MACD line is also below the signal line and is trading in a downtrend, indicating a bearish move.
Featured image from Pixabay and chart from Tradingview