Uniswap

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>UNI price took support on the demand zone around $6 mark.</a></li>
 <li><span>2</span> <a>Uniswap crypto is delivering bearish signs and is trading below the 200 day EMA mark.</a></li>
</ul>
<p>The Uniswap (UNI) witnessed distribution from the supply zone of $15 and has replicated selloff in the past sessions. The UNI crypto has reached the demand zone of $6 and is intending for a pullback.</p>
<p>The Uniswap crypto price has settled around the $7 mark and made a bottom around it, looking to regain momentum and trying to deliver a short term pullback.</p>
<p>Meanwhile, the price action still favours the bear army and the UNI crypto needs to cross and sustain above the 50 day EMA to flip the trend.</p>
<p>At press time, the Uniswap crypto (UNI) price traded at $7.53 with an intraday gain of 6.89%, reflecting buying strength in the intraday session. It has a monthly return ratio of -30.29% and 43.20% yearly.</p>
<p>The pair of UNI/BTC is at 0.000119 BTC, and the market cap is $6.61 Billion. <a href="https://www.thecoinrepublic.com/2024/03/25/bitcoin-news-spot-etfs-outflow-jp-morgan-analysts-on-btc-price/" target="_blank" rel="noopener noreferrer nofollow">Analysts </a>are neutral and suggest that the Uniswap crypto may gain momentum and bounce back.</p>
<h2 class="wp-block-heading" id="strong-uniswap-uni-selloff-ease-can-uni-retain-strength-strong"><strong>Uniswap (UNI) Selloff Ease, Can UNI Retain Strength?</strong></h2>
<p>On the daily charts, the Uniswap price held the gains below the 200 day EMA support zone and is anticipating a rebound in the following sessions. For weeks, the UNI crypto was hovering near the demand zone and was witnessing uncertain moves.</p> <iframe loading="lazy" title="Santiment Chart: Price (UNI), Volume (UNI)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=uniswap&amp;pt=UNI&amp;df=2023-11-03T18%3A29%3A59.188Z&amp;dt=2024-05-03T18%3A29%3A59.188Z&amp;sat=shchcfg_qIIcMWaCYlPf&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p class="has-text-align-center">Source: Santiment</p>
<p>The intraday trading volume jumped over 43.90% to $123.04 Million, signifying an increase in the buying interest among the investors. Until the downside of $6 is not breached, the UNI crypto will be an ideal candidate to go long.</p>
<h3 class="wp-block-heading" id="strong-will-uni-bulls-back-into-the-game-strong"><strong>Will UNI Bulls Back Into The Game?</strong></h3>
<p>This week, the price action of the <a href="https://www.thecoinrepublic.com/2024/04/21/exploring-uniswap-exchange-and-uni-token-a-comprehensive-guide/" target="_blank" rel="noopener noreferrer nofollow">Uniswap </a>crypto signifies a base buildup around $6 and a decline in the price volatility was noted. The volatility dropped over 2.90% to 0.01.</p> <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=uniswap&amp;pt=UNI&amp;df=2023-11-03T18%3A29%3A59.188Z&amp;dt=2024-05-03T18%3A29%3A59.188Z&amp;sat=shchcfg_qIIcMWaCYlPf&amp;emcg=1&amp;emhwm=1&amp;wm=price_volatility_1d%3Bsentiment_volume_consumed_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p class="has-text-align-center">Source: Santiment</p>
<p>On a positive note, the weighted sentiment data remained above the midline, noting at 0.045, reflects a favorable bullish outlook among investors.</p>
<p>A close above the $8.30 mark may lead sellers in trouble and will result in short covering. The RSI curve witnessed a positive crossover and is heading toward the midline region.</p>
<h3 class="wp-block-heading" id="strong-what-does-development-activity-and-open-interest-data-indicate-strong"><strong>What Does Development Activity and Open Interest Data Indicate?</strong></h3>
<p>Per the Santiment data, the development activity data witnessed a follow on up move and stayed on top around 104, reflecting positive data.</p> <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=uniswap&amp;pt=UNI&amp;df=2023-11-03T18%3A29%3A59.188Z&amp;dt=2024-05-03T18%3A29%3A59.188Z&amp;sat=shchcfg_qIIcMWaCYlPf&amp;emcg=1&amp;emhwm=1&amp;wm=dev_activity%3Btotal_open_interest&amp;wax=0%3B1&amp;wc=%238358FF%3B%23FF5B5B&amp;ws=%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%2C%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p class="has-text-align-center">Source: Santiment</p>
<p>Likewise, the derivative data replicates fresh long additions and the open interest value spiked over 1.29% to 46.89 Million.</p>
<p>Per the Fibonacci retracement levels, the Uniswap price is still hovering below the 38.2% zone, and is below the mid bollinger band, delivering a decline in the selling pressure.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>The Uniswap (UNI) crypto price trades in the bearish region and is in a downtrend for the past weeks. The price action signifies lower low swings and the sellers have persisted in showcasing their dominance.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $7 and $6.30</p>
<p><strong>Resistance Levels:</strong> $8.30 and $9</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>

Uniswap Price Reverted From Demand Zone, Can UNI Cross $8 Mark?

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Thecoinrepublic.com

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