- Uniswap presents a bearish price outlook.
- UNI-USD experiences resistance at $7.74.
- The pair’s support stands at $7.41.
Uniswap’s latest price outlook shows the alt adhered to downside tendencies over the past day. The market resorted to bearishness after hitting the $7.75 high within the past four hours, with $7.74 representing UNI-USD’s resistance.
The alternative token has its support at $7.41, though it appears weak. The bulls controlled the level early today and over the past week. Nevertheless, thus bullish strength didn’t prevail, with bearish establishing their regime to crash UNI towards the $7.48 value area.
UNI/USD 1-Day Analysis
Uniswap’s one-day price outlook shows a massive bearish bias today as the alternative token saw a substantial plunge within the previous 24 hours. Meanwhile, the selling pressure dragged UNI-USD from the $7.75 high to the current price of $7.48.
Meanwhile, the market witnessed some bullish strength before bearish momentum surfaces during the day. The BBs widened, with the lower band at $5.82 and the upper one at $7.72. The UNI-USD price seems to cross beneath the MA’s curve, indicating a bearish action.
The price trends follow a downside movement, signifying market disinterest for UNI. The alternative token shows the RSI (Relative Strength Index) stood at 60.26, confirming overbought tendencies for Uniswap. Unfortunately, that means the coin is in the underbought territory.
Uniswap 4Hr Price Chart
The hourly UNI price indicates the token price plunged, and the downside amplified over the past four hours. Also, the price noted a downside break today. Though bulls attempted a comeback, they met rejection after a minor effort.
A swift price dip surfaced as bears dragged UNI’s prices toward the $7.48 down. Moreover, this sharp plummet emerged after extended efforts to sustain the coin’s price levels. The four-hour charts show the moving average had a bearish cross, with the moving average at $7.74 amid continued price dips.
UNI-USD’s Relative Strength Index stood at 62.16. The upper BB stood at $7.94, while the lower one hovered at $6.98.
Conclusion
Uniswap’s price analysis exhibited bearish tendencies in the hourly and daily outlook. The past 24hr saw dominating declines, with the price plunging to $7.48. Moreover, market players can expect intensified selling pressure in the coming hours.
