Market
UNI In Trouble? Key Indicators Cites Potential Drop Amid Market Downturn
![](https://coin2049.io/wp-content/uploads/2024/06/Uniswap-from-VectorStock-3.jpg)
Uniswap (UNI), a prominent decentralized exchange token, is bracing for further declines as the broader cryptocurrency market experiences a significant downturn. Recent market trends indicate a continuation of bearish momentum, which has impacted UNI’s price negatively.
Several factors, including macroeconomic uncertainties, regulatory pressures, and shifts in investor sentiment, are contributing to this extended downtrend. As Uniswap’s price breaks key support levels, the likelihood of additional losses increases.
This article delves into UNI’s price analysis with the help of technical indicators to determine the anticipated decline and provide insights into what traders and investors might expect in the coming days.
The price of Uniswap has increased by 4.60%, trading at about $9.873 in the last 24 hours, with a market capitalization of more than $5.9 billion and a trading volume of more than $356 million as of the time of writing. UNI’s market cap and trading volume were also up by 4.28% and 19.98%, respectively.
UNI Builds Bearish Sentiment
On the 1-hour chart, UNI is attempting to move below the 100-day Simple Moving Average (SMA) as it has failed to move above the bearish trendline. It can be suggested here that Uniswap might go bearish.
![UNI](https://www.newsbtc.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-13-at-10.33.53-AM.jpeg?w=860&resize=860%2C500)
The 1-hour Composite Trend Oscillator also signals that the price of UNI might break below the 100-day SMA and go bearish as both the signal line and SMA crossed and are heading toward the zero line. From this Relative Strength Index (RSI) formation, it can be considered that UNI might go bearish if it moves below the 100-day SMA.
Meanwhile, in the 4-hour chart, UNI’s price trades below the trendline and the 100-day SMA. The price of UNI is also attempting to drop a bearish 4-hour candlestick.
![UNI](https://www.newsbtc.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-13-at-10.33.52-AM.jpeg?w=860&resize=860%2C500)
Although the 4-hour composite trend oscillator indicates that UNI may go bullish, the price will certainly move upward on a short-term note and begin to decline again. The signal line and SMA line are heading toward the zero line, but this has continued for a while.
Support Levels To Watch Out For
If the price of UNI drops below the 1-hour 100-day simple moving average, it will begin to move towards the $8.748 support level. It may even decline more to test the $7.557 support level if it breaks below the abovementioned level.
However, if Uniswap were to change course at any of the previously mentioned support levels, it would begin to rise toward the resistance level of $10.381. If the price breaches this resistance level, it might be poised to test the $11.801 mark and perhaps much higher to test other levels.
Featured image from Adobe Stock, chart from Tradingview.com
Market
Bitcoin Price Takes a Step Back: Analyzing The Recent Correction
![](https://coin2049.io/wp-content/uploads/2024/07/Bitcoin-Back.jpeg)
Bitcoin price failed to continue higher above the $63,650 resistance zone. BTC is now correcting gains and might revisit the $60,850 support.
- Bitcoin started a downside correction from the $63,650 resistance zone.
- The price is trading below $62,500 and the 100 hourly Simple moving average.
- There is a connecting bearish trend line forming with resistance at $61,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair might struggle to start a fresh increase above the $62,250 resistance zone.
Bitcoin Price Dips Again
Bitcoin price struggled to extend gains above the $63,650 and $63,800 resistance levels. A high was formed at $63,798 and the price started a downside correction.
The price declined below the $63,000 level. The bears were able to push it below the $62,500 level and the 100 hourly Simple moving average. There was also a move below the 50% Fib retracement level of the upward move from the $59,951 swing low to the $63,798 high.
Bitcoin price is now trading below $62,500 and the 100 hourly Simple moving average. There is also a connecting bearish trend line forming with resistance at $61,850 on the hourly chart of the BTC/USD pair.
The bulls are now trying to protect the $61,400 zone and the 61.8% Fib retracement level of the upward move from the $59,951 swing low to the $63,798 high. If there is another increase, the price could face resistance near the $61,850 level and the trend line.
The first key resistance is near the $62,250 level. The next key resistance could be $62,500. A clear move above the $62,500 resistance might start a steady increase and send the price higher.
![Bitcoin Price](https://www.newsbtc.com/wp-content/uploads/2024/07/Bitcoin_99759e.png?resize=1024%2C461)
In the stated case, the price could rise and test the $63,250 resistance. Any more gains might send BTC toward the $63,650 resistance in the near term.
More Losses In BTC?
If Bitcoin fails to climb above the $62,250 resistance zone, it could continue to move down. Immediate support on the downside is near the $61,400 level.
The first major support is $60,850. The next support is now forming near $60,500. Any more losses might send the price toward the $60,000 support zone in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $61,400, followed by $60,850.
Major Resistance Levels – $62,250, and $62,500.
Market
Exploring Upward Momentum and Bullish Prospects
![](https://coin2049.io/wp-content/uploads/2024/07/ADA-Price-Rise.jpeg)
Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.
At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
Market
Should Investors See This as a Buying Chance?
![](https://coin2049.io/wp-content/uploads/2024/07/XRP-Buy.jpeg)
Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.
At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
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