Uniswap

Million

Resistance

Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>The UNI price signified a panic selloff and breached the 200-day EMA sharply.</a></li>
 <li><span>2</span> <a>Buyers looked trapped and stayed on the back foot.</a></li>
</ul>
<p>The UNI price signifies bearish momentum and directs follow-on selling pressure on the charts. The token has slipped below its key moving averages and is heading toward the demand zone of $5. Although the token has succeeded in holding the gains near its base support zone of $7 and a dead cat bounce was seen yesterday, Following the negative market sentiment floated in the crypto market, the token is anticipating further selloff and may retest the below demand zone of $5 shortly.&nbsp;</p>
<p>At press time, the Uniswap token (UNI) price traded at $7.87 with an intraday gain of 9.31%, reflecting neutrality on the charts. It has a monthly return ratio of -39.20% and 25.80% on a yearly basis. The pair of UNI/BTC is at 0.000118 BTC, and the market cap is $6.91 Billion. Analysts are neutral and suggest that the UNI token may deliver volatile moves and will soon breach the downside region of $7.</p>
<h2 class="wp-block-heading" id="strong-uni-price-volume-profile-on-daily-charts-strong"><strong>UNI Price Volume Profile On Daily Charts</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (UNI), Volume (UNI)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=waves&amp;pt=WAVES&amp;df=2023-03-04T00%3A00%3A00.000Z&amp;dt=2024-04-15T18%3A29%3A59.261Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Buniswap%3BUNI%5D%3B%5B1%3Bvolume_usd%3Buniswap%3BUNI%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%227d%22%2C%22node%22%3A%22candle%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>The above chart replicates the<a href="https://www.thecoinrepublic.com/2024/04/14/vet-price-prediction-can-vet-escape-out-of-range-above-0-5500/" target="_blank" rel="noopener noreferrer nofollow"> price </a>to volume profile of the Uniswap token (UNI) highlighting major profit booking this week. Along with UNI token, most of the crypto assets have faced sharp selloff and eroded gains, replicating negative sentiments. The token has slipped below the major support zone of $8 and may continue to slide ahead. The intraday trading volume dropped over 48.37% to $259.68 million.</p>
<h3 class="wp-block-heading" id="strong-price-volatility-and-weighted-sentiment-outlook-strong"><strong>Price Volatility and Weighted Sentiment Outlook</strong></h3> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (UNI), Weighted sentiment (Total) (UNI)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=waves&amp;pt=WAVES&amp;df=2023-03-04T00%3A00%3A00.000Z&amp;dt=2024-04-15T18%3A29%3A59.261Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Buniswap%3BUNI%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Buniswap%3BUNI%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>Following the sharp cut of over 34% in the token price, the price volatility curve noted a massive spike and is noted around 0.023, delivering selling pressure. Likewise, the weighted sentiment looks neutral and stays above the midline around 0.506, delivering a neutral outlook.</p>
<h3 class="wp-block-heading" id="strong-social-dominance-and-twitter-followers-overview-strong"><strong>Social Dominance and Twitter Followers Overview</strong></h3> <iframe loading="lazy" title="Santiment Chart: Social Dominance (UNI), Twitter Followers 7d (UNI)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=waves&amp;pt=WAVES&amp;df=2023-03-04T00%3A00%3A00.000Z&amp;dt=2024-04-15T18%3A29%3A59.261Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsocial_dominance_total%3Buniswap%3BUNI%5D%3B%5B1%3Btwitter_followers_7d%3Buniswap%3BUNI%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>The Social Dominance noted a surge over 3.90% to 0.946%, replicating a bounce in the discussion reports on media platforms in the last three trading sessions. However, the twitter followers data noted a steep decline and dragged over 353% to -13.5 mark.&nbsp;</p>
<h4 class="wp-block-heading"><strong>Development Activity and Total Open Interest Insights</strong></h4> <iframe loading="lazy" title="Santiment Chart: Development Activity (UNI), Total Open Interest in USD (UNI)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=waves&amp;pt=WAVES&amp;df=2023-03-04T00%3A00%3A00.000Z&amp;dt=2024-04-15T18%3A29%3A59.261Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bdev_activity%3Buniswap%3BUNI%5D%3B%5B1%3Btotal_open_interest%3Buniswap%3BUNI%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%2C%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%7D%3B" scrolling="no"></iframe>
<p>Per the charts, the development data witnessed an up move and stayed above the midline around 98, glimpsing a positive outlook. However, the derivative data signifies long unwinding, reflecting sharp profit booking; the open interest dropped by 7.89% to $52.91 Million in the last 24 hrs.</p>
<p>Per the Fib levels, the UNI price has slipped below its 38.2% zone and is hovering near its 23.6% support zone around the $7 mark. However, the RSI curve stayed in the oversold region, and a negative crossover was noted on the charts.</p>
<p>The total supply of the UNI token is 1 Billion, whereas the volume-to-market cap ratio is 0.0378, and it ranked 22 in terms of market cap in the global crypto market.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>The Uniswap token (UNI) price trades below its midline region and hovers around its crucial support mark of $7. The price action showcases fresh short additions, and the token may continue to face bearishness.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $7.60 and $7</p>
<p><strong>Resistance Levels:</strong> $8 and $8.30</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

UNI Price Prediction: Can Sellers Succeed In Breaching $7 Mark?

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