Uniswap Price Analysis: UNI/BTC Price Plunged By 20%

UNI/BTC Technical Analysis
  • UNI/BTC price plunged from 0.00067184 to 0.00053788 on Friday’s trading session
  • The 24-hour volume in UNI/BTC is at $23,433,840 with a 3.60% increase.
  • The UNI/USD pair was trading at $30.36 with a neutral movement of 0.04%
Source:UNI/BTC on TradingView

The 4-hour technical chart of the UNI/BTC price projects a negative trend. According to pivot points, Uniwap’s critical support level is placed at 0.00050090 BTC. Whereas if it moves up, the key resistance level to watch is 0.00067199 BTC. While diving into the weekly chart of a 4-hour time-frame, it completes a dark cloud cover candlestick pattern.

SMA-50, 100 & 200 acts as another strong support in the coin. SMA-50 (purple) and SMA-100 (white) is above SMA-200 (red), which projects a bullish trend in the asset. The price is below the SMA-100. Investors may perceive a positive crossover in the chart, the price will also follow the positive trend.

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RSI indicator (BEARISH), with a value of 34, indicates a sell signal in the coin. Moreover, Investors can see a downward slope from 41 to 34 in the index, it may soar in future trading sessions.

UNI/BTC Price May Soar Upto 25%

UNI/BTC price traded at 0.00053788 with a loss of 2.33% in the last 24-hour. In contrast, the market capitalization of Uniswap stands at $15.788 billion. Technically, investors can perceive a positive crossover in SMA. Moreover, the movement of price can be towards the resistance of 0.00067199 BTC.

Resistance: 0.00067199 BTC

Support: 0.00050090 BTC

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Nikhil Ingolehttp://themarketperiodical.com
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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