Uniswap (UNI) Price To Plunge 15% As Bearish Sentiment Intensifies?

Uniswap (UNI) Price To Plunge 15% As Bearish Sentiment Intensifies?

The post Uniswap (UNI) Price To Plunge 15% As Bearish Sentiment Intensifies? appeared first on Coinpedia Fintech News

The Uniswap price continues to display increased price volatility as the altcoins repeatedly fail to surpass its important resistance level of $11.640, indicating a strong liquidation point for the altcoin at that level.

With the increasing price volatility in the crypto space in anticipation of an altcoin rally, will the UNI coin price regain momentum this June? Dive in as, in this article, we have covered the price analysis and potential short-term price targets of Uniswap crypto.

Uniswap Price On The Verge Of Breaking Its Important Support Level:

Despite recording a correction of 2.73% within the past day and approximately 1% over the past week, the UNI crypto has added 32.34% within the past 30 days. It has rewarded its users with a return of 30.34% this year alone.

With a price tag of $9.652, a circulating supply of 599,957,295 UNI tokens, and a market cap of $5.63 Billion, the Uniswap price has secured the 20th position in the global crypto market list and requires roughly $150 Million to surpass Litecoin (LTC) token in terms of market capitalization.

The Cross EMA 50-day acts as a support to the price chart in the 1D time frame, suggesting a high possibility of a bullish bounce back this week.

The Relative Strength Index (RSI) is on the verge of testing its mid-point, highlighting uncertainty for the UNI coin price. Moreover, the average displays a bearish sentiment, indicating a mixed sentiment in the crypto space.

Will UNI Price Go Back Up?

If the market holds the Uniswap token above the resistance level of $9.90, the bulls will regain momentum and prepare to test its important resistance level of $11.640.

Furthermore, if the bulls continue to dominate the market, the UNI price will prepare to test its upper resistance level of $13.510 this month.

Conversely, if the bears gain control over the market, the UNI price will test its support level of $8.40. Moreover, if the bulls fail to regain momentum, the Uniswap token will test its crucial support level of $6.920 during the upcoming weeks.