Uniswap price is down but hopes are high for a positive uptrend as the New Year is around the corner. Sellers managed to regain control of the market and the bearish trend took over. UNI was recently trading at $5.23, down by 1.69% in the last 24 hours.
The altcoin is down from the low highs of $5.35. The bull’s momentum wasn’t strong enough, they were unable to break through the resistance of $5.35. As such, the bears took over and pushed the price down to $5.25. Since then, UNI has been trading in a tight range. UNI’s price slipped again with the confirmation of a bearish trend. With bears still present and wanting to buy at a lower price, the bulls might try to make a comeback.
A strong bearish presence is indicated by the MACD as it moves further into the negative region. The relative strength index is also bearish. UNI has strong support at $5.22. Earlier, it had managed to touch the highs of $5.35. The altcoin may grace the highs of $5.40 in the next couple of days if the bulls manage a continued strong run.