$UNI / $USDT Showing Downward Pressure on Binance 📉
Uniswap (
$UNI ) is currently trading at $5.886 on Binance, down by 1.31% on the 4-hour chart and a more significant 3.30% overall.
The 4-hour chart reveals a bearish trend with the price making lower highs and lower lows. The recent high reached $6.414, while the 24-hour low sits at $5.786, indicating a clear downward movement.
The price is currently hovering near the $5.88 support level. A break below this could intensify the selling pressure and potentially lead to a test of the $5.80 and even the $5.786 (24-hour low) levels.
On the upside, immediate resistance can be expected around the $5.95 - $6.00 zone. For a potential bullish reversal,
$UNI would need to break decisively above this area.
Key Levels to Watch:
Potential Support: $5.88, $5.80, $5.786
Potential Resistance: $5.95, $6.00, $6.10
Traders should exercise caution and monitor volume for confirmation of any potential breakouts or breakdowns.
#UNI #Uniswap #DeFi #Crypto #Bearish