{"id":175336,"date":"2023-05-11T15:32:26","date_gmt":"2023-05-11T15:32:26","guid":{"rendered":"https:\/\/precoinnews.com\/?p=175336"},"modified":"2023-05-11T15:32:26","modified_gmt":"2023-05-11T15:32:26","slug":"uniswap-uni-surges-after-a-bumpy-ride-is-bearish-run-over","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/uniswap-uni-surges-after-a-bumpy-ride-is-bearish-run-over\/","title":{"rendered":"Uniswap (UNI) Surges After A Bumpy Ride, Is Bearish Run Over?"},"content":{"rendered":"

Uniswap (UNI) has been experiencing downward movement due to general market sentiment.\u00a0<\/span>The downtrend started on April 19, dropping<\/span> from $6 to $5. However, the price rises gradually, indicating that the bulls are building momentum.<\/span><\/p>\n

This slight increase has left traders wondering if the bearish trend is over and whether things might start getting better for Uniswap (UNI).<\/span><\/p>\n

Signs of Bullish Sentiment As UNI Surges<\/h2>\n

Notably, UNI is up today by 3.27% at a high of $5.12 within the last 24-hour trading session.\u00a0<\/span>The 24-hour trading volume is also up by over 97.72% at $68 million, signifying that the UNI market is experiencing high activity. This data shows that the bulls build strong momentum with positive market sentiment.<\/span><\/p>\n

Related Reading: Bitcoin Price Blasts Above $28,000 Following 4.9% April CPI Report<\/p>\n

Moreover, the token still holds the 22nd position on the <\/span>CoinMarketCap<\/span> ranking with a market cap of $2.9 billion. <\/span>According to <\/span>CFGI.io<\/span>, the market sentiment towards Uniswap (UNI) is bullish.\u00a0<\/span><\/p>\n

The indicator confirms the bullish sentiment with a 61 reading, meaning investors are greedy. This further shows that investors are optimistic about the future potential, and the recent increase in price may be sustainable.<\/span><\/p>\n

UNI Technical Analysis<\/h2>\n

Even with the increasing price and trading volume, the technical indicators for UNI remained contradictory, with some pointing towards a potential bear market.<\/span><\/p>\n

UNI is currently trading below its 50-day & 200-day <\/span>Simple Moving Averages<\/span> (SMAs) and has formed a Death Cross, a bearish sign. <\/span>The Death Cross contributed to the price drop as it caused traders and investors to sell their holdings or take short positions.\u00a0<\/span><\/p>\n

The SMA indicator suggests that both the long-term and short-term trend is bearish. But, the price might reverse if the bulls hold their long positions. <\/span>The Relative Strength Index<\/span> (RSI), with a reading of 40.20, suggests that the asset is not in the overbought or oversold regions but in a neutral range.\u00a0<\/span><\/p>\n

This indicates that there’s no significant buying or selling pressure and UNI might experience some level of consolidation or a positive price change.<\/span><\/p>\n

The <\/span>MACD indicator<\/span> suggests a bearish trend, with the MACD currently below the signal line. The histogram also confirms the bearish momentum as it is trading below zero.<\/span><\/p>\n

UNI is trading at $5.14 at the time of writing. The bears are trying to break through the first support level of $4.746, a level several times.<\/span><\/p>\n

However, if the bulls build strong momentum and break above the significant resistance level of $5.731, it might trigger a bullish trend. The next support and resistance level will be $3.358 and $7.651. <\/span>Uniswap’s price can also lose most of its gains if the bears break the support levels successfully.\u00a0<\/span><\/p>\n

<\/p>\n

Featured image from Pixabay and chart from Tradingview<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Uniswap (UNI) has been experiencing downward movement<\/p>\n","protected":false},"author":3,"featured_media":175335,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nUniswap (UNI) Surges After A Bumpy Ride, Is Bearish Run Over? - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/uniswap-uni-surges-after-a-bumpy-ride-is-bearish-run-over\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uniswap (UNI) Surges After A Bumpy Ride, Is Bearish Run Over? - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Uniswap (UNI) has been experiencing downward movement\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/uniswap-uni-surges-after-a-bumpy-ride-is-bearish-run-over\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-11T15:32:26+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/05\/Uniswap-UNI-Surges-After-A-Bumpy-Ride-Is-Bearish-Run-Over.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/uniswap-uni-surges-after-a-bumpy-ride-is-bearish-run-over\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/uniswap-uni-surges-after-a-bumpy-ride-is-bearish-run-over\/\",\"name\":\"Uniswap (UNI) Surges After A Bumpy Ride, Is Bearish Run Over? 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