Uniswap

The post <a href="https://coinpedia.org/price-analysis/uniswap-price-faces-series-of-rejections-whats-next-for-uni/" rel="noopener noreferrer nofollow">Uniswap Price Faces Series Of Rejections, What’s Next For UNI?&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
<a href="https://markets.coinpedia.org/uniswap/" rel="noopener noreferrer nofollow">Uniswap</a> price rallied 42% in a 7-day frame but recent price action is negative with a 24-hour drop of -4.79%, and price trading at $10.99. Uniswap’s 24-hour volume dropped 36.5% to 332 million, UNI Price is losing the trend with on-chain data showing increased selling pressure, and investors ejecting with profit.
UNI, the governance token of Uniswap decentralized exchange invalidated the long-term sideway pattern and broke our zone of $6.66 and $8.25. The impulse uptrend made prices sit above the SMA 100 level.&nbsp;
UNI crypto price action in the last month and week is an uptrend the recent 2 days have been fearful. The Price started corrections at $11.5 and has gripped a downward rally today.&nbsp;
Increased accumulation and distribution indicator shows how the price accumulation makes big waves and the distribution remains constant.&nbsp;
<h2 class="wp-block-heading" id="h-uniswap-trend-is-uncertain-nbsp">Uniswap Trend is Uncertain&nbsp;</h2>
<a href="https://markets.coinpedia.org/uniswap/" rel="noopener noreferrer nofollow">Uniswap</a> faced rejection at the order block zone of $11.5, there is a critical support near $10.7 and one strong one at $8.60. The price 4hr chart is approaching a channel pattern, if the asset breaches down the $10.7, we can see a significant drop ahead.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXeVv3brMwOHOAoHRK5GK9CGJCEiWdQgHfy7y2bgzr6RKKXyPgSr0dD5IQVUIUERf1IGdkTfIUPD422GwBmHovlLjECdHX092zjGbgFHhVeOoLWYlOYDHBwd79YkR0Z55YMlW733I4L0hYNTCIsPhmzE_jkr?key=-OVvNhmCG2h_BuEhNu5geA" alt="">
</figure>
RSI at 72.29 is above the threshold of 70, this indicates the asset is overbought and dropping below this is a clear indicator to sell. If bulls resist and power up to swing above the 70, price rebound is possible.&nbsp;
Although the price is trading above all day’s moving averages, technical indicators and on-chain data portray a mixed analysis. The UNI price action hereafter can be uncertain,&nbsp;
<h2 class="wp-block-heading" id="h-investors-intend-to-take-profit-nbsp">Investors Intend To Take Profit&nbsp;</h2>
The Sentiments Market Value to Realized Value (MVRV) dropped from 35% to 25% on Saturday. This indicates that the buyers of last month are now sitting at 25% profit. Exit of these holdings may lead the price to drop 8% more.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXeduCCtx3mErh9QRTqOy7JeCG--C9KaXJ0mSf9xis3MSqxqlaQf08sVQbu6rCCnt1XWzqA5c8t_j6L7d03cD9E2OO8Cc39l3PLB6Ejbk2wCZJjdveVMqdV0JOpZKUaPoIqj7E_4TJx8iAMC96IdnvdAnFA?key=-OVvNhmCG2h_BuEhNu5geA" alt="">
</figure>
<h2 class="wp-block-heading" id="h-trade-setup-for-uni-nbsp">Trade Setup for UNI&nbsp;</h2>
Trend: Neutral to Bearish
Entry: Near $10.7 ( if does not break the trend line or WAIT )&nbsp;
SL: $10&nbsp;
TP: 12% to 15% ( if breached upper level of $11.8 )&nbsp;

Uniswap Price Faces Series Of Rejections, What’s Next For UNI?

Table of Contents

CoinPedia News

Other articles published on May 27, 2024

Blockchain dev Sphere introduces bank-to-wallet Telegram extension

HTX Historically Outranks Coinbase In This Key Metric

Analyst Predicts XRP Surge to $154: A Closer Look at the Chart Patterns

Memecoins Ready to Explode in Value

Whale Moves 2,000 ETH From Binance Sparking Price Speculations, What’s Next?

Crypto Analyst Identifies Bullish Trends in INJ and MATIC with TD Sequential

Join our free newsletter for daily crypto updates!