Uniswap (UNI) – Exhibiting a strong bearish bearing beneath all the Ichimoku plotsPosted on Thursday, January 13 2022 at 9:12 pm GMT+0000
Uniswap (UNI) sellers have led the coin on a sharp decline towards 13.68, a low last seen back in July 2021 where the price began a near two-month rally. The red Ichimoku cloud is shielding the prevailing bearish structure, having persistently curbed advance since the beginning of 2022.
The negatively charged Ichimoku lines are indicating that downward forces are still dominating, while the short-term oscillators are implying that bearish momentum is gaining power again. The MACD crossed back beneath its signal line in the negative region, while the RSI shifted back south below the 50 neutral threshold.
Once again, the recovery attempt was rejected by the Ichimoku cloud, and sellers started emerging back. Thus, they will likely drive the price towards the 14.1-13.3 zone of congest lows posted last December. Resuscitating the descent, they may snag to the 10.0, psychological border.
To the upside, buyers are promptly challenged with the cloud and the adjacent Ichimoku directional lines. Should they manage to overstep these lines residing around 17.0, they may aim for the 20.0 resistance level, which has been active since late December.
To sum up, Uniswap is exhibiting a strong bearish bearing beneath all the Ichimoku plots, and odds for a revisit of the 14.1-13.3 increased following the recent deflection of the cloud. That said, for buyers to regain some confidence, they need to pilot the price above the 17.0 level.