Ethereum

Uniswap

Momentum

<ul class="wp-block-list">
 <li>Uniswap (UNI) trades in the $16.31 range.&nbsp;</li>
 <li>The daily trading volume of the asset has dropped by 10.80%.</li>
</ul>
The global cryptocurrency market has witnessed a dip over the past 24 hours. The recent bullish rally has diminished, with Bitcoin and <a href="https://thenewscrypto.com/will-ethereum-eth-surge-past-4k-soon/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> losing ground. All the major altcoins were recovered over the past few days. Notably, Uniswap (UNI) has spiked by over 3.65% in the past 24 hours.&nbsp;
The asset’s intraday high was noted at $16.54, climbed from a low of $14.78. At the time of writing, Uniswap <a href="https://coinmarketcap.com/currencies/uniswap/" target="_blank" rel="noopener noreferrer nofollow">trades</a> at $16.31 with its daily trading volume settled at $905 million.&nbsp;
UNI’s price has <a href="https://thenewscrypto.com/what-is-next-for-uniswap-uni-after-a-35-rally/" target="_blank" rel="noopener noreferrer nofollow">surged</a> over 79% in the last thirty days. UNI has continued to gain momentum over the past week by 28%. The asset opened the week trading at a low of $12.76.&nbsp;
As December is here, traders expect an altcoin rally with notable price breakouts. Will the Uniswap bulls regain the lost momentum?
<h3 class="wp-block-heading" id="h-can-uni-find-its-momentum-again">Can UNI Find Its Momentum Again?</h3>
Uniswap’s daily price window exposed the current negative sentiment. UNI’s price could likely test its nearby support around the $14 range. In the case where the selling pressure solidifies, the UNI price might steeply dip below $10. Further depreciation will push the altcoin’s price back to its previous lows.&nbsp;
However, if the UNI bulls took charge over the bearish pressure, the asset might bring in a retest of the immediate resistance at $17.68. If Uniswap continues to trade on the upside, it could push the price toward the $20 mark to set in motion a new rally.&nbsp;&nbsp;
Moreover, UNI’s technical chart analysis discloses the Moving Average Convergence Divergence (MACD) line below the signal line. This likely suggests the downside trajectory and an imminent bear run.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdiCADkX6zg1yDlLnxx5gvdtQyuGkd1m9bkipMjFVQL_aOoeJubGQ1kPTmLCQ_056wWwqnZiqmhufJBPixE4UHGyeblxP7w-HstVVsVDX0BcY-3hm79wIs7_A5I-nNb82vONd7S?key=A1ZRe7yHTi-NFWxglO_OTlk6" alt="">
 <figcaption class="wp-element-caption">MNT chart (Source: <a href="https://in.tradingview.com/symbols/UNIUSD/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Besides, the Chaikin Money Flow (CMF) indicator is laid at -0.08, inferring the negative money flow and selling pressure and reflecting more outflows within the market. Meanwhile, Uniswap’s trading volume has plummeted by over 10.80%.
Additionally, the 24-hour <a href="https://in.tradingview.com/chart/AHwivr5C/?symbol=BINANCE%3AUNIUSD" target="_blank" rel="noopener noreferrer nofollow">frame</a> of UNI reveals the short-term 9-day moving average crossing the long-term 21-day moving average at $15.76 and $15.38, respectively. Also, the asset is located in the neutral zone in the market, as the daily relative strength index (RSI) is found at 65.60.
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Will Uniswap (UNI) Find Its Momentum Again?

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