The post Uniswap (UNI) Price Vulnerable to Further Downside Pressure appeared on BitcoinEthereumNews.com.

Uniswap (UNI) price has struggled recently, dropping almost 5% in the last 24 hours and down 5.24% over the past week, despite Bitcoin’s recent surge. The recent decline highlights the weakness in UNI’s momentum, with technical indicators suggesting a cautious outlook. Although EMA lines still show a bullish structure, the price slipping below short-term EMAs signals fading buying pressure. A potential reversal could still be on the cards, but caution is warranted as the current trend remains vulnerable to further downside. UNI RSI Is In The Neutral Zone On November 7, UNI’s Relative Strength Index (RSI) hit 85, driven by a rapid 50% surge in its price within just 24 hours. Since reaching that high, the RSI has gradually declined and currently sits at 43.32. The RSI is an indicator used to assess momentum by measuring the speed and change of price movements, helping identify whether an asset is overbought or oversold. Typically, an RSI above 70 signals that an asset might be overbought, while an RSI below 30 indicates potentially oversold conditions. UNI RSI. Source: TradingView With UNI’s RSI now at 43.32, the indicator suggests that the recent momentum has cooled down considerably. This level falls in the middle range, reflecting neither an overbought nor an oversold condition but rather a balanced market sentiment. It implies that UNI price could stabilize after the sharp rally, with the potential for either consolidation or a new move depending on shifts in buying or selling pressure. Uniswap ADX Shows The Current Trend Is Not Strong UNI’s ADX is currently at 19, down significantly from over 40 just a week ago. The Average Directional Index (ADX) measures the strength of a trend without indicating its direction. Typically, an ADX reading above 25 suggests a strong trend, while values below 20 indicate a lack…

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Filed under: News - @ November 15, 2024 2:19 am