Uniswap Price Faces Risk of Drop to $3.3
- Price Downtrend: Uniswap (UNI) price fell 3.8% to $3.85 on March 18, and if it breaks below a key trendline support, it could drop further to $3.3, indicating weakened market sentiment.
- Declining Network Activity: According to DeFiLlama, the total value locked on the Uniswap platform has plummeted to $3.31 billion, significantly below the $6.3 billion record set in August last year, reflecting a notable decline in user engagement.
- Weakening Futures Demand: Data from CoinGlass shows that open interest in Uniswap futures has decreased by 5.8% in the past 24 hours, suggesting cautious investor sentiment, particularly ahead of the Federal Reserve's upcoming rate decision.
- Bearish Technical Indicators: Technical analysis indicates that Uniswap's price is on the verge of breaking below an ascending trendline that has supported it since February, which could accelerate the downtrend, although a rebound above $4.1 could confirm a bullish pattern and end the current correction.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for UNI
Technical Sentiment Analysis for Uniswap (UNI). As of , Uniswap (UNI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for UNI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, UNI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Uniswap (UNI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 3.08 | 3.361 | 3.647 | 3.928 | 4.214 | 4.495 | 4.781 |
| Fibonacci | 3.361 | 3.578 | 3.711 | 3.928 | 4.145 | 4.278 | 4.495 |
About UNI
About the author
