Uniswap Registers Yearly Low: Vital Trading Levels To Follow
24 Februar 2022 - 11:00PM
NEWSBTC
The broader crypto market jolted hard owing to the tension between
Russia and Ukraine. Uniswap broke below its crucial support level
and was priced at $8.32. Bitcoin slid off its charts at press time,
after noting a 9% depreciation. The crypto market had barely
recovered from the December crash. With the Russia and Ukraine
tension intensifying most altcoins have again lost much of their
strength. Uniswap for instance at the current price level flashed a
yearly low too. Uniswap had registered an all-time high of $45 in
the month of May, last year post which the coin continued to dip on
its charts. The coin breached its long holding support level of
$12.65 and broke below a series of resistance lines. Related
Article | Bloomberg Strategist: This Is The Defining Moment To Buy
Bitcoin Uniswap Price Analysis: Four-Hour Chart Uniswap was priced
at $8.32 and was closing near its immediate support level of $7.87.
In the last 24 hours, UNI lost 7% of its value and over the last
week, the coin had shed almost 24% of its value. The coin had tried
to consolidate near its $12.65 support line, post which UNI
continued to move in a downtrend. After the coin breached the
aforementioned support line, UNI had tried to hold itself above the
price floor of $8.36, however, the coin broke below the $8.36 price
mark. Uniswap had also tried to bounce back from the $8.36 and
touch the $9.26 price mark. If the coin continues to trade beneath
the $10.01 price floor, which UNI had retested a couple of times
then there could be chances that UNI would dip below the support
level of $7.87. The coin has remained under brought for almost one
week now, forcing the coin to touch a yearly low. The last time UNI
traded at this price mark it was in the month of January 2021. A
fall from the $7.87 would push UNI to trade between the $6 and
$5.88 price levels. Rationale The technical outlook of Uniswap was
quite bearish at the time of writing, over the past week UNI had
displayed a consistent bearish outlook. Ever since UNI started
dipping down from the $10.01 support line, buyers started to exit
the market. Related Reading | Russia Can Avoid Sanctions By Using A
Wide Range Of Cryptocurrency Tools The aforementioned situation had
pushed the UNI to the oversold area. The Relative Strength Index
was parked underneath the half-line, which indicated that buying
strength was absent in the market and selling pressure dominated
the coin. Although RSI had noted a slight uptick, at press time the
indicator again started to side with the bears. UNI was trading
beneath the 20-SMA line, which is indicative of a bearish outlook.
The sellers in the market were responsible for driving the price
momentum of the market. MACD underwent a bearish crossover and the
coin started to depict red histograms at the time of writing. This
reading meant that the market trend continued to act in accordance
with the bears in the market.
Uniswap (COIN:UNIUSD)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Uniswap (COIN:UNIUSD)
Historical Stock Chart
Von Apr 2023 bis Apr 2024