UNISWAP became a victim of bears in February and The Bulls are unable to rescue it so far. The price kept falling after failing to break the $7.70 barrier. The prices have taken a toll of almost 50%.

  • UNI/USDT is down 0.46% as of today’s trading session
  • UNI/USDT is taking support from a critical price point

UNISWAP is trading at $4.54 after falling from its resistance of $7.70. So far, The asset has depreciated by almost 50% this year. The price has taken a decent bounce of almost 26% from its recent dip. The bears briefly pierced the $4 support and the price went down to $3.40. The Bulls quickly bought the dip and pushed the price back to its current level trapping many sellers.

The Daily chart shows a strong downtrend.

  Source: UNI/USDT by TradingView: https://www.tradingview.com/x/16nwXvHY/

Source: UNI/USDT by TradingView: https://www.tradingview.com/x/16nwXvHY/

The Daily chart shows how the bears dominated over the last few months. What added to this was the breach of $4.90 which triggered panic selling as the Bulls got stopped out. This event resulted in a fall of almost 25%. Another observation shows that the price is forming a descending channel. This pattern usually tends to break towards the upside and could be used by the Bulls to orchestrate a Trend reversal. Such a breakout has a price target of almost 40% to the level of $6.40. The investors must wait for a strong breakout supported by high volume,

The 4H chart shows a potential bear flag

Source: UNI/USDT by TradingView: https://www.tradingview.com/x/A1Jssfxq/

Source: UNI/USDT by TradingView: https://www.tradingview.com/x/A1Jssfxq/

A closer look at the 4H chart shows that the recent bounce has helped the price to surge in the short term. The recent uptrend is adding to the formation of an ascending channel which can be interpreted as a Bear Flag. Such a pattern is a common sight in a strong downtrend.

A breakdown of this bear flag can bring a downfall to the level of $3.50 where the market can lose almost 20% of its value. The price is trading close to the upper trendline of the channel along with the 200 EMA. At this point, the Bulls can also try for a breakout and hence it is advised to be cautious in the short term.


The RSI indicator is currently at 54.78 on the 4H and the RSI has crossed the MA line towards the upside. This indicates bullish to sideways conditions


The MACD indicator is making a bullish crossover and the indicator is about to cross the 0 line. This is a signal of a bullish move

200 EMA

As observed, on the 4hr, the price is trading below the 200 EMA(exponential moving average) which acts as a significant resistance This is a clear indication of a downtrend where the sellers are in control and for a trend reversal, the price must break and trade above the 200 EMA.

Technical levels

Support Levels: $4.03 – Support 1

    $3.36 – Support 2

Current Price: $4.54

Resistance Levels: $4.90 – Resistance 1

          $5.63 – Resistance 2


UNISWAP appears to be in the grips of the bears. The price is trading at key demand zones which can attract new players. Whereas, the early investors are troubled to see their portfolio in red and are hoping for a reversal. The descending Channel can become the runway for the prices to fly. But the Bulls must break it with strong Volume. The market can become very volatile in the upcoming time and investors are advised to follow strict risk management to keep the losses in check.

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