The recent Uniswap (UNI) price shows significant decline despite increased trading volume, indicating conflicting sentiments in the cryptocurrency market.
Overall Status of Uniswap (UNI)
On June 21, Uniswap (UNI) price dropped by 6.39%, trading at $6.88. The market capitalization fell to $4.32 billion, representing a 7.12% decline in the last 24 hours.
Trading Levels and Technical Analysis
Currently, UNI is positioned between key support and resistance levels. Immediate support is at $6.69. If this level is breached, a decline towards $6.30 could follow. The resistance at $7.13 is significant, and a breakthrough above this level may lead to movement towards $7.58. However, the current downturn raises doubts about recovery.
Current Trends and Market Conditions
The Relative Strength Index (RSI) shows weakening strength at 48.81, indicating a potential continuation of the current downtrend. The Chaikin Money Flow (CMF) stands at 0.04, suggesting subdued capital inflows. There is evident uncertainty among larger investors. Market participants should closely monitor the critical levels of $6.69 and $7.13.
Despite the persistency of the decline, the increase in trading volume suggests potential changes in market activity. Market participants should continue to watch the key levels.
