Tezos price analysis: Bears overtake bullish momentum to push UNI below $1.57

Tezos price analysis reveals that the digital asset is currently in a bearish extension after it found resistance at $1.59. The bulls had attempted to push prices higher but failed as the market found support at $1.52, and if the market breaks below this level, it is likely to head towards $1.30.

Timeline of Uniswap, Tezos

A Uniswap (UNI) recent market downturn has forced UNI's trading range to shrink significantly. During the bull market in July, UNI jumped by more than 60 percent in just over two days, prompting the subsequent fall.

Popular cryptocurrency analyst and expert trader Michaël van de Poppe has said that Tezos ($XTZ) a decentralized computing platform that supports smart contracts, is “ready for big breakouts,” pointing to a technical pattern on the cryptocurrency's chart.

The recent correction in Uniswap coin price stalled at the combined support of 0.618 Fibonacci retracement level and $5.7. Over the past two weeks, the altcoin rebounded from this support twice, indicating a high accumulation zone.

Tezos price analysis is bullish, with the XTZ/USD pair rising to the $1.69 level. The price action recently created a bullish engulfing candlestick pattern, which indicates that the bears are losing control.

Uniswap price analysis reveals that the UNI/USD value has been on a steady decline over the past few hours. The value has now dipped below the $7.00 level and is currently trading at $6.56.

Automated liquidity protocol Uniswap [UNI] steered its way to where it was two weeks back, despite many of its counterparts recording good gains. Despite making huge waves a week ago, it was surprising to see UNI's price at the exact zone it was during the crypto-market's capitulation.

Recent Tezos price analysis indicates that the digital asset has gained over 7.71 percent in the last 24 hours and currently trading at $1.66.The XTZ/USD pair is facing strong resistance near the $1.75 level, which is preventing the bulls from pushing the price higher. Tezos opened the daily trading session at $1.

The price of Uniswap (UNI) is in a downtrend, but is making positive moves as it breaks above the 21-day line SMA. On July 28, the price of UNI rose to a high of $9.80, but was then pushed back.

The Tezos price restarts the uptrend with a double bottom reversal from the $1.39 mark resulting in a 20% jump exceeding $1.50 to touch the neckline at $1.66. Furthermore, the triple white soldier pattern in the daily chart shows a promising recovery in Tezos market value that will continue in the coming week.

The UNI/USDT pair has been struggling to take support at the crucial support level of $5.72 as the increasing selling pressure teases a breakdown. However, the RSI indicator projects the possibility of a reversal with a lower price rejection as it displays a bullish divergence.