📉 Uniswap Price Down 50% – Is a Further Decline in Store for UNI? 🤔

📉 The Uniswap (UNI) price has sharply declined this month, halving in value and falling by over 65.4% since its peak last month.

📉 Whether UNI will continue to decline or see an upswing depends on market sentiment and broader trends. Monitoring support levels and key indicators like MACD and RSI can provide insights into potential movements.

📉 Uniswap's decline of approximately 65.4% since last month reflects a significant bearish trend, with the MACD histogram showing a bearish trend this month. The price seeks support around $4.72 to $5.86 after breaking the $8.5 support level.

📉 In the weekly chart, the MACD lines suggest a bearish shift, while the RSI remains neutral. UNI finds support near $7.54 but could drop lower to $3.3 - $5.86 range, presenting potential entry points for bullish investors eyeing rebounds.

📈 Despite short-term bearish indicators like the death cross in the 4-hour chart, the presence of a golden crossover in the daily chart indicates a prevailing bullish trend. Resistance levels are seen around $10.15 and $12.9.

📉 Against BTC, Uniswap has been in a descending channel with bearish momentum, confirmed by the MACD histogram. The RSI remains neutral, indicating continued downward pressure against Bitcoin.