- Uniswap performed a negative momentum on Friday’s trading session
- Uniswap price is $23.08, which is down by 8% in the last 24-hour time-frame and 10.57% up from the previous week
- UNI/BTC pair is negative with a gain of 2.15% in Friday’s trading session (0.0004963 BTC)
Uniswap had negative momentum on the weekly chart, and it went up to $32.63 on February 20, 2021, while breaking above the resistance zones created in the past. UNI price set a mark of an all-time high. Meanwhile, the trading volume of $1,176,677,920 in the last 24-hour time-frame represents an increase in the value of 21.80%. The UNI/ETH pair is neutral with a value of (0.01561) which is 0.25% in Friday’s trading session.
Uniswap (UNI) Technical Chart Indicates a Negative Momentum
The technical chart of Uniswap highlights a negative trend. In contrast, The Uniswap price is at $23.08. According to pivot points, the critical support level for UNI is placed at $20.0. Whereas if it moves up, the key resistance level to watch is $32.80. While diving into the weekly chart of 4-hour time-frame, it completes a bearish engulfing candlestick pattern, indicating the bears have overwhelmed the bulls and are now in control.
Investors may observe an inverted cup and handle pattern on the chart just above the support level of $20. Moreover suggesting that if it slips below the support we can see a continued bearish trend in the coin. On the other hand if it tests the baseline of the pattern and support, the price may also bounce back for a bullish reversal with medium reliability.
Volume indicator with the value (35.043K) reflects a selling volume in coin. Investors can further expect a decrease in selling volume in the upcoming trading sessions.
SMA-200, price is at $20.11, which acts as another strong support in the coin. The price is above the SMA, and investors can expect a bullish trend in the coin.
MACD indicator (BEARISH), bearish crossover signal line spotted on February 26, 2021, indicated a sell signal in the coin during the trading session. Also, it denotes the ending of red bars on Histogram.
RSI indicator (BEARISH) with a value of 44 indicates a sell signal in the coin. One can observe an increase in value in upcoming trading sessions.
Conclusion
Uniswap price is down by 8% on Friday’s trading session. The price is above the SMA of $20, investors may expect the price to progress towards the next support of $20.0. All technical indicators suggest a sell signal in the coin.
Resistance: $32.80
Support: $20.0
