🔍 Uniswap Stumbles: Can It Still Reach $10.50? 💹 #UNIWatch
Uniswap (UNI) is facing some headwinds after a strong start to the week. The price dropped nearly 3% on Tuesday, falling below the crucial $9.40 level. 📉
**Technical Hurdles for UNI** 🚧
The daily chart shows a bearish trendline acting as a resistance barrier near the recent high of $9.68. The bulls were unable to break through this line, and the price has retreated. 😕
There's a silver lining, though. The Moving Average Convergence Divergence (MACD) indicator is still flashing bullish signals, suggesting some underlying momentum for UNI. 📈 Additionally, the price is still trading above both the 21-day and 55-day exponential moving averages (EMAs), which is a positive sign. 👍
**The Road to $10.50** 🚀
For UNI to reach $10.50, it needs to overcome the bearish trendline resistance. A successful breakout above this level would open the door for a potential climb to the $11.43 resistance zone and even higher to the March 31st high of $13.33. 🌟
**Potential for a Downturn** ⬇️
However, if the bearish sentiment intensifies, UNI could face further downside pressure. The first support level lies at the 55-day EMA at $8.54. If selling continues, the price could even test the low of $7.62 set earlier this week. 🛑
**Remember, this is not financial advice!** 🛑 Do your own research before making any investment decisions in the volatile cryptocurrency market. 🔍 #cryptotradingpro #Uniswap #DYOR*
