Uniswap (UNIUSD) Struggles Around $6.8 Price Level
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The uniswap market has entered a consolidation trend since mid-January and the price has moved erratically within the price zones of $6.00 and $7.39. However, within this price channel, the bulls have managed to change the support price levels along the line by some minute differences. The current support level is $6.44. That means that the bulls are trying to push the market, but they are not strong enough.
UNI/USD Price Statistic
- UNI/USD price now: $6.65
- UNI/USD market cap: $5,068,130,955
- UNI/USD circulating supply: 762,209,327 UNI
- UNI/USD total supply:1,000,000,000
- UNI/USD coin market cap rank: #18
Key Levels
- Resistance: $7.5, $8.0, $8.5
- Support: $5.5, $5.0, $4.5
Price Prediction Uniswap: the Indicators’ Point of View – The Market Settles for Consolidation
Looking at the Bollinger Bands indicator and the Relative Strength Index, the market is still in a deadlock situation. The bearish resistance seems to have shifted to the $6.9 price level. This is going to intensify the indecision trend if the bulls were unable to break the resistance. Looking at the past daily market session, it looks like the bulls are stronger than the bears in this market however they are not consistent and that is why the market is moving erratically within the price channel.
UNI/USD 4-Hour Chart Outlook
From the 4-hour point of view, we see the appearance of two significant candlestick patterns on the chart. We noticed the Doji candlestick and the 4-price candlestick. These two types of candlestick patterns are very significant for a possible trend reversal. The supply zone may be gathering momentum for bearish price action, but for now, the bulls appear stronger and the pressure is on the supply zone.
