UNI Price Prediction: Can Sellers Break the $7 Mark?
UNI price indicates bearish fall momentum and indicates subsequent selling pressure on the chart. The Token has fallen below its key MA line and is heading towards the $5 demand zone. Although the Token managed to hold the pump range near the $7 base support area and there was a Dead Cat Bounce yesterday, the Token is expected to suffer a further sell-off with negative market sentiment in the Crypto Assets market and a possible retest of prices below the demand zone. Soon it was $5.
Uniswap Token (UNI) price is trading at $7.87, with an intraday pump of 9.31%, reflecting neutrality on the chart. The monthly yield is -39.20% and the annual yield is 25.80%. The UNI/BTC price is 0.000118 BTC and the market capitalization is $6.91 billion. Analysts are neutral and believe that UNI Token could Fluctuation and break through the $7 downside zone soon.
Figure 1 replicates the price and trading volume overview of the Uniswap Token (UNI), highlighting the main profit bookings for the week. As with UNI Token, large long encryption assets have faced sharp sell-offs and eroded earnings, replicating negative sentiment. The Token has fall broken the $8 major support zone and is likely to continue its slide. Intraday trading volume falls more than 48.37% to $259.68 million.
Figure 2 shows a sharp spike in the price Fluctuation curve at around 0.023 after the Token price falls sharply by more than 34%, bringing selling pressure. Again, the weighted sentiment looks neutral and holds above the medium term around 0.506 with a neutral outlook.
Figure 3 Social Dominance pumped more than 3.90% to 0.946%, replicating the rebound in media platform discussion reports over the past three trading days. However, Twitter follower numbers saw a sharp decline, dragging more than 353% to the -13.5 mark.
Figure 4 From the chart, the development data is on an rise trend and remains above the medium term of around 98, with a positive outlook. However, derivation data showed long Close Position, reflecting a sharp pullback in profits, with open interest down 7.89% to $52.91 million in the last 24 hours.
According to the Fib level, the UNI price has fallen below the 38.2% area and is hovering near the 7% supporting area near the $23.6 mark. However, the RSI curve is still in the oversold zone, and a negative crossover appears on the chart.
The total issuance volume of UNI Token is 1 billion, and the Trading Volume market capitalization ratio is 0.0378, ranking 22nd market capitalization the global encryption market.
The Uniswap Token (UNI) price is below the medium term area and is hovering near the key support level of $7. The price action shows a new increase in shorts, and the Token may continue to face bearish falls.
Technology:
Support bits: $7.60 and $7
Resistance levels: $8 and $8.30
(Source: Ritika Sharma)