Analytics

UNI Price Analysis: Uniswap Trying to Recover, Fails Due To Low Volume

  • Uniswap price slipped from higher levels due to abnormal volume activity and failed to hold short term moving averages of 20 and 50-Day
  • The pair of UNI/BTC today performing well, as jumped nearly +7.70%, standing at 0.0005724 BTC

Source:tradingview

Uniswap price over the monthly chart is trading sideways at the higher levels, as the volume action seems to be decreasing gradually over the period. After making a new 52-week high of $39.52, UNI slipped sharply due to profit-taking.

However, the overall trend over the longer-term time horizon is still positive or bullish, and the dip can be utilized for buying opportunities. While support on the lower side is situated at $25 and $19.5, similarly resistance on the higher side is $40 and $47. Uniwasp is located at 11th rank according to the total market capitalization stands at $16,664,456,153 with intraday gains of +5.68%.   

Source:tradingview

Uniswap price over the weekly time frame is trading sideways after sharp profit-taking from higher levels. Meanwhile, the consolidation range of UNI is between $32.90 to $28.20. It must break the trading range with high volume for further strong momentum. Meanwhile, the indicators are in favor of a sideways trend over short-term charts. 

Currently, the coin is trading at $31.80 with intraday gains of +4.42%, and volume in the last 24-hours dropped around -8.09%, standing at $904,342,833. 

Relative Strength Index (NEUTRAL) indicates neutral momentum while trading at 50.62. However, after testing the oversold zone, it recovered gradually, but the momentum is missing, and a sideways trend is expected. 

Moving Average Convergence Divergence (NEUTRAL) currently indicates a bullish trend on the daily chart, as it is trading with the significance of the buyer’s signal line (green) over the seller’s line (red). However, a sideways trend is expected for the short term. 

Support levels: $40 and $47 

Resistance levels: $25 and $19.5. 

   

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