Uniswap price analysis: UNI shows consistency at $6.1 after bearish movement

Uniswap price analysis reveals that the market is following a negative trend below the $6.2 mark and is likely to remain. UNI/USD had tremendous momentum the previous day, September 14, 2022, when the price went significantly from $5.9 to $6.2.

Timeline of Uniswap

Uniswap price analysis has been on a steady decline over the past 24 hours, with the token losing over 1.79% of its value. The UNI/USD pair is currently trading at $6.15, after opening the day at $6.27.

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.

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.

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.

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.

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 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.

The coin market can be described as a gift that keeps giving. There's usually a crypto token to watch out for. This token usually has the potential to increase in value exponentially. Most of the wealth generated in crypto has been from these price surges.

The price of Uniswap (UNI) is in a downtrend, but the cryptocurrency fell to a low of $5.71 on August 28. Last week, UNI was in an upward correction. Today, the altcoin has risen to the high of $6.21.