Uniswap, a renowned decentralized exchange protocol, is encountering substantial price fluctuations in its UNI coin, struggling to surpass the critical resistance level of $11.64. This resistance signals a strong liquidation point, contributing to the coin's persistent value swings.

Despite these hurdles, the UNI coin has witnessed substantial growth, registering a 32.34% increase over the last month. Although minor corrections have occurred, such as a 2.73% dip in the previous day and a 1% decline in the past week, investors have reaped a 30.34% return this year. With a current valuation of $9.652, a circulating supply of 599.95 million UNI, and a market capitalization of $5.63 billion, Uniswap holds the 20th spot in the global crypto market.

Technical analysis indicates that the 50-day Exponential Moving Average (EMA) acts as a support level for the UNI coin on a daily basis, implying a potential short-term bullish recovery. The Relative Strength Index (RSI) nearing its midpoint reflects the uncertainty surrounding UNI's price movements, while the overall market sentiment remains mixed with a bearish inclination.

Potential for Price Growth

If the market sustains UNI above the $9.90 resistance level, bullish investors may regain momentum, potentially leading to a test of the significant resistance at $11.64. Continued bullish dominance could propel UNI coin's price towards the upper resistance barrier of $13.51 within the month, marking a substantial upward trajectory for the altcoin.

Conversely, a scenario where sellers exert control, causing UNI coin's price to revisit the support level at $8.40, could unfold. Failing to reclaim bullish momentum may result in a decline to the critical support level at $6.92 in the ensuing weeks, potentially undoing earlier gains.

The price volatility of UNI reflects broader market dynamics and investor sentiment within the cryptocurrency realm. As investors anticipate an altcoin rally, UNI's performance is likely to remain contingent on overall market trends and investor confidence.