Uniswap (UNI) is currently trading at $6.03, marking a 4.5% daily loss and extending its broader decline. Over the past month, the token has fallen by more than 20%, with a quarterly drop of 34%. Trading volume has increased significantly, though, up 94% in the past 24 hours and 140% over the past week.
Despite this uptick in activity, price action remains negative. The rising volume during a downtrend may suggest that increased trading is driven by sell-side pressure. Price continues to trade below key averages, and most momentum indicators show limited strength on the buy side.
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Momentum Indicators
RSI: Close to Oversold
The Relative Strength Index (RSI) tracks overbought and oversold conditions. The daily RSI(14) is at 38, down from 42 yesterday and 40 a week ago. The short-term RSI(7) is at 36, down from 44. Values below 50 suggest that sellers are dominant, and current readings place UNI near oversold levels.
MFI: Close to Oversold
The Money Flow Index (MFI), which combines price and volume, is at 32 today, following a steady drop from 40 a week ago. This points to weaker buying pressure relative to capital flow.
Fear & Greed Index: Fear
This index reflects sentiment across the overall crypto market, not UNI specifically. Today’s reading is 34, compared to 51 two days ago and 27 one week ago. These values indicate cautious sentiment, with recent declines showing increased fear.
Read also: How To Use Crypto Fear and Greed Index To Your Advantage?
Moving Averages
SMA & EMA: Bearish
The 9-day Simple and Exponential Moving Averages are both at $6.3, while UNI trades below that level. The 26-day SMA is at $6.64 and the 26-day EMA at $6.72, indicating that the token has remained under longer-term trend levels.
Bollinger Bands: Increased Volatility
Bollinger Bands help visualize price volatility. The upper band is at $6.91, and the lower band at $5.78. With UNI trading near the lower edge, current price levels fall into a region often associated with oversold conditions.
Trend & Volatility Indicators
ADX: Strong Downtrend
The Average Directional Index (ADX) measures trend strength. It is at 41 today and has remained steady for the past week, suggesting that the current downtrend is well-established.
ATR: Decreasing Volatility
The Average True Range (ATR) is at 0.54, down from 0.65 last week. Lower ATR values indicate reduced short-term price fluctuations.
AO: Negative Momentum
The Awesome Oscillator (AO), which tracks momentum shifts, is at -0.51. While this is slightly higher than the previous week’s -1.07, it remains in negative territory, which corresponds to continued bearish momentum.
VWAP: Bearish
The Volume Weighted Average Price (VWAP) is currently $9.05, placing UNI’s market price well below volume-weighted levels. This can suggest that recent trades have occurred at a discount compared to historical volume-adjusted averages.
What’s Next?
Taken together, current technical readings point to continued weakness in UNI’s price trend, with most indicators aligned toward downside momentum. While volume has increased, directional bias remains negative across key signals.
As usual, remember that technical analysis reflects past and present market behavior but does not account for unexpected news or shifts in broader sentiment.
