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Ankita Awasthi
Dec 18, 2021
by Ankita Awasthi

UNI Technical Analysis: Falling Trend in Long Horizon, Watch Few Trading Sessions to Seek Direction

UNI
Uniswap is a popular decentralized trading protocol known for its role in facilitating the automated trading of decentralized finance (DeFi) tokens. Uniswap (UNI) aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that on traditional exchanges.

Past Performance of UNI

The UNI coin is trading at $15.32, which is just a 2% increase since yesterday. The price has moved from a high of $26 in early November to the current price.

TradingView Chart

UNI Technical Analysis

The On-balance Volume is at 160 million with a slight dip, but a real drop indicating that volume on Up days is greater than the volume on Down days. Hence, demand (buyers) exceeds supply (sellers).

RSI is at 38%, near the oversold zone. During a bear market, the RSI tends to stay under 20, with the 30% zone acting as resistance. The UNI price might have gone up a little since the last two days but is certainly dipped in a time zone of a few weeks.

The MACD line is crossing above the signal line, following the trend of overall downfall in prices. We need to watch a few days more of trading sessions to get a sense of a clear bullish trend.

Price Trends for the Day-Ahead and Tomorrow

The monthly technical indicators and moving averages for the cryptocurrency suggest 4 sell and 2 neutral recommendations for UNI. Moreover, weekly technical indicators and moving averages suggest 10 sell and three buy signals. Also, the nearest support zone is $14 and the nearest resistance zones are $20 and $25.

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UNI Uniwap
UNI Technical Analysis: Falling Trend in Long Horizon, Watch Few Trading Sessions to Seek Direction
Ankita Awasthi
Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

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