Uniswap Bears Strike Back: Fresh Decline Begins After $12.3 Barrier Holds

Name	Symbol	Market	Market Cap ($)	Algorithm
Uniswap	UNIUSD	Crypto	8,080,378,670	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Uniswap

UNIUSD

Crypto

8,080,378,670

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.180	-1.66%	10.69	10.68	10.69

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.180

-1.66%

10.69

10.68

10.69

High Price	Low Price	Open Price	Prev. Close	52 Week Range
11.11	10.57	10.86	10.87	4.71 - 19.47

High Price

Low Price

Open Price

Prev. Close

52 Week Range

11.11

10.57

10.86

10.87

4.71 - 19.47

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	08:47:45	8.81	10.69	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

08:47:45

8.81

10.69

USD

Price x Volume	Volume	Base Symbol	Related Pairs
2,846,001.00	263,428.36	UNI	UNIEUR	UNIGBP	UNIBTC

Price x Volume

Volume

Base Symbol

Related Pairs

2,846,001.00

263,428.36

Uniswap Bears Strike Back: Fresh Decline Begins After $12.3 Barrier Holds

02/02/2025 12:30am

NEWSBTC

The attempt of Uniswap to break past the critical $12.3 resistance has fallen short, giving bears the upper hand and triggering a fresh decline. Despite bullish efforts to push higher, selling pressure at this key level proved too strong, forcing UNI into a downward move. This failure to sustain gains above $12.3 has raised concerns about a potential deeper retracement, as sellers look to capitalize on the weakness. With bearish pressure mounting, UNI’s price action suggests that bulls may need to regroup before attempting another breakout. Will the token find support and recover, or is a deeper decline on the horizon? Why Bulls Failed To Break $12.3: Market Sentiment Explained Uniswap’s failure to break past the $12.3 resistance level highlights a shift in market sentiment, where bearish pressure outweighed bullish momentum. Despite multiple attempts by buyers to push higher, the resistance proved too strong, leading to increased selling activity. This suggests that traders saw $12.3 as a key take-profit zone, reducing upward strength and allowing bears to regain control. Related Reading: Uniswap Stays On Course For More Gains – $12.3 Resistance In Sight Another factor contributing to the rejection is overall market uncertainty. If broader crypto market conditions remain weak or investors hesitate to commit to higher price levels, bullish breakouts become harder to sustain. Uniswap trading below the 100-day Simple Moving Average (SMA) combined with a weakening RSI indicates significant bearish pressure. The 100-day SMA, often seen as a key indicator of the longer-term trend, suggests that the market sentiment is tilted toward selling. Additionally, the ongoing decline in the RSI indicates that selling pressure is growing stronger. As the indicator drops below the 50% level and moves closer to the oversold zone, it implies that bearish movement is picking up pace. For Uniswap to regain strength, buyers must reclaim momentum and establish strong support to fuel another breakout attempt. Until then, market sentiment leans bearish, keeping the risk of further downside in play. Key Support Levels To Watch As Uniswap Slides As Uniswap slides lower, key support levels will be crucial in determining whether the price can stabilize or if more declines are likely. The first notable support lies around $10.3, which has historically acted as a base for price action. If UNI fails to hold this level, the next area of support to watch is around $8.7, where the price could find more significant buying interest. Related Reading: Uniswap Consolidates At $17: A Calm Before The Bullish Storm? Should both levels be breached, UNI might face deeper declines, with $6.7 as the next key support level. These support zones will be key indicators for traders looking to determine whether the price can stabilize or if the bearish momentum will continue to drive UNI lower. Featured image from Adobe Stock, chart from Tradingview.com

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UNIUSD Uniswap