UNI Price Prediction – Uniswap Recovery Could Remain Capped

Apr 12, 2024 06:00 am Cryptocurrency 48

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.

UNI started a fresh decline below the $10.00 support zone.

The price is trading below $9.50 and the 100 simple moving average (4 hours).

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).

The pair might recover but the upsides might be limited above $10.00.

UNI Price Takes Hit

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 Bitcoin and Ethereum.

There was also a drop below the $9.20 level. The price traded ..

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