In the last 24 hours, UNI’s price dropped by 5.3% as if recorded data from Coin Gecko reached a selling price of $7.7. The downward trend has been going on even in the past week the token has been on a bearish momentum.
Source: coingecko
The token circulation supply has shown a slight increase of around 0.27% pushing it to over 753.766,667 million. As of market capitalization, its value is $5,305,184,725 billion which is also a drop.
Source: Tradingview
Narrow bollinger bands from UNI’s chart signify a decreased volatility which can actually lead to a breakout in either direction. The price may either move upward or continue with its current downward trend.
Cryptocurrency markets still show much volatility, and UNI’s recent price drop simply follows this industry pattern. The reasons for the fall remain unseen, yet, it is worthwhile to analyze the issue from the point of view of overall market sentiment and the possible regulatory changes that may be considered in the crypto domain.
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