In response to Uniswap (UNI) worth chart, the coin is transferring sideways on the chart. When the market opened, the value dropped to $5.30 the place UNI discovered little assist.
The bulls try to regain management however the promoting stress is kind of robust. The coin confirmed bearish momentum after April 19, 2023 when sharp drops have been noticed on the chart. As of right this moment, Could 2nd, it has continued the bearish pattern.
UNI worth growth in April
Uniswap opened at $6.0603 in April and traded across the similar worth level early the following day earlier than pulling again to $5.9461 on the shut. Luckily, UNI regained a grip above $6 on April 4th.
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UNI maintained the identical worth level from April 4th to seventh earlier than collapsing to $5.9191 on April eighth. Fortunately, the value drop solely lasted 5 days. On the shut on April 13, UNI was again above $6.
It remained at this level till April twentieth when it misplaced its footing when falling to the $5 worth vary and continued till right this moment Could 2nd.
UNI worth is falling on the l UNIUSDT chart on Tradingview.com
Will Uniswap (UNI) Get well From This Downtrend?
The worth of Uniswap right this moment, 02 Could 2023, is $5.31, indicating a lack of 1.74%. Additionally, the market cap is down 2.05% to $3.06 billion, with UNI’s 24-hour trading quantity down 26.90% to $33 million.
The 1-day worth chart for the Uniswap worth evaluation reveals that the UNI bulls are doing their finest to manage the value decline. Nonetheless, the bears are nonetheless answerable for right this moment’s worth motion. However DRegardless of dealing with promoting stress right this moment, UNI/USD is down simply 1.74% within the final 24 hours.
UNI worth is in a zone the place traders or merchants are afraid to purchase UNI and holders are more likely to sell based mostly on present market sentiment. Due to this fact, except the bulls rebuild bullish momentum, the downtrend might proceed.
UNI Key Worth Ranges
Based mostly on right this moment’s Uniswap chart, the coin instantly helps $4,628. If the bears proceed this momentum, the following vital level is $3.341. The coin will battle to interrupt the $7.761 resistance level with this little momentum.
This indicator has been exhibiting a SELL sign since April 18, 2023, when the value of Uniswap fell beneath its 50-day SMA.
Uniswap can also be traded beneath the 200-day SMA. As of April 18, 2023, the 200-day SMA has indicated SELL for the previous 13 days. The Relative Power Index (RSI) pulse oscillator is 38.58, exhibiting that UNI is impartial.
The MACD The road can also be beneath the sign line and is trading in a downtrend, suggesting a bearish transfer.
Featured picture from Pixabay and chart from Tradingview