CandleFocus Uniswap (UNI) Price Faces Pressure Despite Bitcoin’s Rally
2024-11-15
Author: Content Editor
The price of Uniswap's UNI token has been struggling, dropping almost 5% in the last 24 hours and 5.24% over the past week, despite the recent surge in Bitcoin. Technical indicators suggest a cautious outlook for UNI's momentum, with the price slipping below short-term EMAs indicating fading buying pressure. The Relative Strength Index (RSI) has declined from a high of 85 to 43.32, suggesting cooled momentum. UNI's ADX has dropped significantly from over 40 to 19, indicating weak bearish momentum. The EMA lines still show a bullish structure, but a potential bearish crossover could signal strong corrections. If the trend reverses, UNI could test support levels around $7.5 and $7.1, but if it shifts to the upside, the next target could be $9.6.
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