Uniswap

Bitcoin

Resistance

UNI price turned red and declined below the $10.00 support. Uniswap is showing many bearish signs and recoveries could face hurdles near $10.00. 
<ul> 
 <li>UNI started a fresh decline below the $10.00 support zone.</li> 
 <li>The price is trading below $9.50 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bearish trend line forming with resistance near $10.25 on the 4-hour chart of the UNI/USD pair (data source from Kraken).</li> 
 <li>The pair might recover but the upsides might be limited above $10.00.</li> 
</ul> 
<h2 id="uni-price-takes-hit">UNI Price Takes Hit</h2> 
After the SEC news, UNI started a major decline. There was an increase in selling pressure on Uniswap below the $12.00 pivot level. The price declined over 15% and traded below the $10.00 support. It also increased some pressure on <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-upside-break-75k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-test-3620/" target="_blank" rel="noopener ">Ethereum</a>. 
There was also a drop below the $9.20 level. The price traded as low as $8.72 and it is still showing many bearish signs. There is also a key bearish trend line forming with resistance near $10.25 on the 4-hour chart of the UNI/USD pair. 
UNI price is now trading well below $10.00 and the 100 simple moving average (4 hours). Immediate resistance on the upside is near the $9.45 level. It is near the 23.6% Fib retracement level of the downward move from the $11.79 swing high to the $8.72 low. 
The next key resistance is near the $10.25 level or the trend line. It coincides with the 50% Fib retracement level of the downward move from the $11.79 swing high to the $8.72 low. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Uniswap-UNI.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-602799" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Uniswap-UNI.png?resize=1024%2C461" alt="UNI Price Prediction" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Uniswap-UNI.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Uniswap-UNI.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Uniswap-UNI.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Uniswap-UNI.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Uniswap-UNI.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Uniswap-UNI.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Uniswap-UNI.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/UNIUSD/" target="_blank" rel="noopener nofollow">UNIUSD on TradingView.com</a> 
A close above the $10.25 level could open the doors for more gains in the near term. The next key resistance could be near $11.80, above which the bulls are likely to aim a test of the $12.00 level. Any more gains might send UNI toward $13.50. 
<h2 id="more-losses-in-uniswap">More Losses In Uniswap?</h2> 
If UNI price fails to climb above $9.45 or $9.50, it could continue to move down. The first major support is near the $8.70 level. 
The next major support is near the $8.50 level. A downside break below the $8.50 support might open the doors for a push toward $7.65. 
Technical Indicators 
4-Hours MACD – The MACD for UNI/USD is gaining momentum in the bearish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for UNI/USD is below the 25 level. 
Major Support Levels – $8.70, $8.50, and $7.65. 
Major Resistance Levels – $9.45, $10.00, and $10.25.

UNI Price Prediction – Uniswap Recovery Could Remain Capped

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