Uniswap (UNI) Price Analysis
Uniswap (UNI) registered a significant decline during the previous week but has made an impressive recovery to climb above $9 at the beginning of the week. UNI surged to an intraday high of $10.77 on Tuesday but lost momentum after reaching this level, allowing sellers to take control. As a result, UNI plummeted to a low of $8.64 before recovering to settle at $8.96, a decline of just over 4%. Bearish sentiment persisted on Wednesday and Thursday as UNI fell by 3.70% and 5.31% to settle at $8.17.
Source: TradingView
UNI recovered on Friday after falling to an intraday low of $7.87, rising almost 5% to settle at $8.56. Bullish sentiment persisted on Saturday as UNI rose nearly 6% to reclaim $9 and settle at $9.06. However, the price fell back in the red on Sunday, dropping by 3.60% and settling at $8.73. Buyers returned to the market on Monday as UNI registered a substantial increase of 5.75% and settled at $9.23. The current session sees the price marginally down as buyers and sellers struggle to establish control. Sellers will look to drive UNI below $9. In such a scenario, UNI could drop to its support level of $8.50. On the other hand, if buyers regain control, we could see an attempt to move above $9.50.
