Uniswap

Test

Shiba Inu

Rekt

<p>Uniswap (UNI), the governance token of the popular decentralized exchange, has been on a rollercoaster ride in recent weeks. According to renowned analyst <a href="https://newsletter.rektcapital.co/altcoin-market-update-10/" target="_blank" rel="noopener noreferrer nofollow">Rekt Capital</a>, UNI is currently in the process of retesting a key resistance level as a new source of support, which could have significant implications for the token’s future price action.</p>
<h2 class="wp-block-heading" id="flipping-resistance-into-support">Flipping Resistance into Support</h2>
<p>Last week, Rekt Capital highlighted how UNI was positioning itself for a retest of the orange region that it had previously broken above. This week, the analyst provided an update, confirming that UNI is indeed in the process of retesting this former area of resistance as a new support level.</p>
<p>The green circle on the chart showcases how this region acted as a point of rejection in early 2022. However, the current green circle demonstrates how this same price area could potentially flip into a base from which UNI might be able to springboard in the future.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-924-1024x723.png" alt="" class="wp-image-456801" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-924-1024x723.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-924-300x212.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-924-768x542.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-924-1536x1084.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-924-2048x1446.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-924-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-924-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-924-496x350.png 496w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-924-788x556.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-924.png 1000w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="potential-for-volatility-in-the-monthly-timeframe">Potential for Volatility in the Monthly Timeframe</h2>
<p>While the retest of the former resistance area as support is a bullish sign, Rekt Capital warns that the monthly timeframe suggests this retest could become more volatile. An attempt at a similar retest in early 2022 ultimately failed, with the support area indicating the possibility of significant downside wicks during the process.</p>
<p>If UNI is going to undergo a volatile retest this time around as well, Rekt Capital points to the black $8.36 level as a potential region for the price to tag. Furthermore, there is scope for the price to wick even lower, into the black-and-white range of $7.21–$8.36.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the <strong>ICO phase</strong>. Check out <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>NuggetRush</strong></a> today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>Seize the opportunity</strong></a> with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="impact-of-the-bitcoin-pre-halving-retrace">Impact of the Bitcoin Pre-Halving Retrace</h2>
<p>The potential for a volatile retest of the former resistance area as support for UNI is particularly relevant in the context of the ongoing Bitcoin pre-halving retrace. If this retrace continues, Rekt Capital suggests that the scenario of UNI tagging the $8.36 level or even wicking lower into the $7.21–$8.36 range is worth keeping in mind.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-925-1024x723.png" alt="" class="wp-image-456809" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-925-1024x723.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-925-300x212.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-925-768x542.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-925-1536x1084.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-925-2048x1446.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-925-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-925-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-925-496x350.png 496w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-925-788x556.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-925.png 1000w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>As Uniswap (UNI) navigates this critical juncture, investors and traders will be closely monitoring the token’s price action to see if it can successfully flip the former resistance area into a new support level. A successful retest could pave the way for future price appreciation, while a failure to hold this level may lead to further downside pressure.</p>
<p>It is essential for market participants to consider the potential impact of the ongoing Bitcoin pre-halving retrace on UNI and other altcoins. By staying informed and adapting to changing market conditions, investors can make more strategic decisions and better navigate the complex world of cryptocurrency trading.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/elite-crypto-analyst-shares-top-10-mistakes-to-avoid-this-bull-run/" target="_blank" rel="noopener noreferrer nofollow">Elite Crypto Analyst Shares Top 10 Mistakes To Avoid This Bull Run</a></li>
 <li><a href="https://captainaltcoin.com/shiba-inu-team-member-predicts-miracle-recovery-and-new-shib-ath-before-bitcoin-halving/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu Team Member Predicts “Miracle Recovery” and New SHIB ATH Before Bitcoin Halving</a></li>
 <li><a href="https://captainaltcoin.com/crypto-whales-monitor-rising-altcoins-scorpion-casino-memeinator-scotty-ai-as-they-project-100x-gains/" target="_blank" rel="noopener noreferrer nofollow">Crypto Whales Monitor Rising Altcoins Scorpion Casino, Memeinator &amp; Scotty AI As They Project 100x Gains&nbsp;</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/uniswap-faces-crucial-test-at-former-resistance-analyst-shares-how-low-can-uni-plummet/" rel="noopener noreferrer nofollow">Uniswap Faces Crucial Test at Former Resistance: Analyst Shares How Low Can UNI Plummet</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Uniswap Faces Crucial Test at Former Resistance: Analyst Shares How Low Can UNI Plummet

Table of Contents

CaptainAltcoin

Other articles published on Mar 21, 2024

Stakeholders discuss future opportunities for the Nigerian ecosystem at the 2024 Mastercard Finte...

Ethereum (ETH) Hits 400,000 Daily Active Users, Arbitrum, Optimism Follow

Robinhood Launches Crypto Wallet for Android Users

Dogecoin (DOGE) Surges 17% in Epic Dog Coin Bounce Back

There is a New Update on the Fate of Terra (LUNA) Founder Do Kwon

Bitcoin recovers, Bonk plummets, NuggetRush emerges as top choice

Join our free newsletter for daily crypto updates!