Uniswap Price Analysis: UNI Coin Under Bear’s Grip, 22% Down in a Week

Source: UNI/USD on TradingView

Daily technical chart of UNI coin represents price failed to break above red supertrend. According to Pivot points (FIB), UNI’s crucial support level is $15.0. Conversely, if it rides up, the required resistance level to observe is at $20.90. Thus, while the intraday chart forms a bearish hammer candlestick pattern, predicting prices in a negative trend with high dependability.

The exponential moving average (EMA) composed of 50,100,200-EMA can be a reliable support for currency price changes. However, investors can observe the price is below the orange line EMA-200, ensuring a downward trend of UNI price.

Volume of (513) is beneath the MA of 20-days (2.731K). selling pressure is low in UNI, making its price remain in a lower zone. Investors may also observe diminishing volume bars in the chart, which indicates a big move is expected in upcoming trading sessions.

The Stochastic RSI (bearish) with a value of K-12.25 D-31.15 displays a sell signal in the coin. Investors may perceive a declining slant and a negative crossover in the index. It may dwell in negative regions for future trading sessions.

Uniswap (UNI) Coin Requires High Buying Pressure Near Support Zones

The price of UNI token is $11.20, a loss of 11.9% in 24 hours and a weekly loss of 22%. In contrast, the market value is 8.842 billion US dollars. Technically, investors can mark that the price is in a downtrend. Therefore, the Stochastic RSI indicator indicates a sell signal. However, on the coin, trading volume is deficient. In addition, price movements may remain negative in future trading hours.

Resistance: $15.0

Support: $20.9

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