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Uniswap price analysis reveals that the market is currently following a dormant trend below the $7.5 mark and is likely to remain there. UNI/USD had tremendous momentum the previous day, July 19, 2022, when the price went significantly from $6.9 to $7.7. However, the cryptocurrency continued to decline today, on July 20, 2022, showing solid bearish momentum; currently, the price of UNI is available at $7.4. Uniswap has been down 2.19% in the last 24 hours, with a trading volume of $303,078,950 and a live market cap of $5,447,469,585. UNI ranks at #18 in the cryptocurrency rankings.
UNI/USD 4-hour price analysis: Latest developments
Uniswap price analysis indicates that market volatility follows an increasing trend, making Uniswap prices more vulnerable to volatile changes on either extreme. The upper limit of the Bollinger’s band is available at $7.6, which acts as the most substantial resistance for UNI. Conversely, the lower limit for the Bollinger’s band is available at $6.9, which serves as a point of support for UNI.
The UNI/USD price appears to be crossing over the curve of the Moving Average, signifying a bullish trend. Furthermore, the UNI/USD price path is moving upwards, attempting to cross the resistance, indicating bullish potential and reversal opportunities.
UNI/USD 4-hour price chart source: TradingView
Uniswap price analysis reveals that the Relative Strength Index (RSI) is 57, meaning UNI/USD is stable and falls in the upper-neutral region. The RSI score appears to be following a linear movement signifying a dormant market trend towards further stability. The RSI score remains constant because the buying activity equals the selling activity.
Uniswap price analysis for 1-day
According to the Uniswap price analysis, market volatility follows a trend of an increasing movement, which means Uniswap prices are becoming more vulnerable to volatile changes. The upper limit of the Bollinger’s band is available at $7.8, which acts as the strongest resistance for UNI. Conversely, the lower limit for the Bollinger’s band is available at $4.3, which serves as the strongest support for UNI.
The UNI/USD price appears to be crossing over the curve of the Moving Average, indicating a bullish trend. The price path traces an upwards movement attempting to break the resistance of the market, which will initiate a reversal if it comes into action.
UNI/USD 1-day price chart source: TradingView
Uniswap price analysis reveals that the Relative Strength Index (RSI) is 66, signifying the cryptocurrency has entered the overvalued domain. Furthermore, the RSI appears to be following a linear path indicating dormancy, and the price may soon fall under the inflation threshold and further overvalue the cryptocurrency. This also signifies that the selling activity is dormant in the market.
Uniswap Price Analysis Conclusion
In conclusion, Uniswap price analysis deduces that the bulls are currently controlling the market, but the bears are trying hard for a comeback. A reverse trend is probable as the RSI score is expected to spike above the inflation region. UNI/USD might undergo a significant incline in the coming days. The cryptocurrency has displayed a solid bullish movement in the past few days. Still, finally, the figures and observations from the charts show us some hope for the cryptocurrency to drop down and lose more value.
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