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The price of UNI currency drops by 50%. Will the decline continue?

The price of the Uniswap token (UNI) saw a significant decline this month, with its value halving. Since its peak last month, it has fallen more than 65.4%.

The price of UNI coin continues to... decline Whether or not it will increase in the near future depends on several factors, including market sentiment, investor activity, and general market trends. It is difficult to predict with certainty, but monitoring key support and resistance levels as well as market indicators can provide insight into potential price movements.

Uniswap price is down over 65% since last month

Reflects the significant decline At Uniswap price, About 65.4% since last month and 54.5% this month, a significant downward trend. It is also evident from the MACD histogram that it has started a downward trend this month.

Tradingview UNI Price Chart
Uniswap price chart. Source: Commercial view

However, the MACD lines are still crossed in an uptrend, and...Relative Strength Index (RSI) Currently neutral.

While Uniswap has broken through the golden ratio support at around $8.5, it is now looking for major support at $4.72 to $5.86. This indicates a critical moment for...Uniswap currency It is moving between these support levels under current market conditions.

Uniswap price approaches critical buy zone

On the weekly chart, the recent bearish crossover of the MACD lines, coupled with the downtrend of the MACD histogram, indicates that Uniswap price is moving towards bearish momentum. At the same time, the Relative Strength Index remains neutral, indicating no upward or downward trend.

Currently, Uniswap finds support at the 50-week EMA at around $7.54. However, there is a possibility of a bearish breakout below this level. If this happens, the price could fall to a range between around $3.3 and $5.86.

Tradingview UNI Price Chart
Uniswap price chart. Source: Commercial view

These levels could represent attractive entry points for buyers, especially if the price rebounds around $4.72, which could target Fibonacci resistance at $8.615 or $12.

Golden Cross Continues in UNI Coin Daily Chart

In the daily chart of the Uniswap coin, a golden cross in the exponential moving averages confirms the dominant uptrend in the short to medium term. Additionally, the recent uptrend seen in the MACD histogram over the past few days adds to this trend.

If the price does not form a lower floor and starts...He approached Given its current position, it could face important Fibonacci resistance levels around $10.15 and $12.9.

Tradingview UNI Price Chart
Uniswap price chart. Source: Commercial view

It should be noted that the $10.1 level represents an additional resistance zone, corresponding to the 50-day EMA.

A death cross has formed in the 4-hour chart

On the 4-hour chart of the Uniswap coin, the appearance of a death cross confirms the short-term bearish trend. But it is worth noting that the MACD lines maintain a bullish intersection, while the MACD histogram, although showing some bearish trends, showed Mainly upward movements.

Tradingview UNI Price Chart
Uniswap price chart. Source: Commercial view

Despite these indicators, the RSI remains neutral, lacking clear signals as it oscillates in the neutral zone.

Uniswap vs Bitcoin: moving in a descending channel

Compared to Bitcoin, Uniswap price has been stuck in a parallel bearish channel for a long time. The weekly chart reveals a downward trend in the MACD histogram, indicating downward momentum. The MACD lines crossed to the downside while the RSI remained neutral.

Tradingview UNI/BTC Price Chart
UNI/BTC Price Chart. Source: Commercial view

If Uniswap coin begins an upward move, it would face significant resistance at the 50-week EMA around 0.00018 BTC.

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