Uniswap – Should traders be concerned? Key levels for UNI’s price!

• Aid throughout the market helped Uniswap bounce from its native lows
• This might become a minor aid rally as an alternative of a long-term bullish reversal

President Trump introduced a 90-day pause on tariffs for all international locations, with China being the only real exception. The sell-off within the U.S Treasury market may need spurred this transfer, giving the worldwide inventory markets some aid.

This information was good for crypto too. Bitcoin [BTC] bounced by 5% in an hour on the again of this announcement. Uniswap [UNI] additionally noticed a worth bounce, however its long-term development remained bearish.

Uniswap retests $5.5, however warning is suggested till a breakout

Supply: UNI/USDT on TradingView

During the last 24 hours, UNI bounced from $4.55 to $5.5 – A 20% leap. This was a retest of the previous $5.52 assist, now a resistance stage. At press time, Uniswap bulls had not managed to interrupt out previous this stage.

The RSI on the each day chart has been under impartial 50 since January. The value additionally made decrease lows and decrease highs over the previous two months. Collectively, they pointed in direction of a robust downtrend, which has not but halted.

The OBV refused to drop under its March lows, regardless of the current uncertainty. This appeared to supply bulls some hope {that a} restoration was brewing, though it was not but right here.

For the reason that $5.5-level was a resistance stage and the long-term development was bearish, it’s possible that the value may fall additional in direction of $3.7. The newest BTC bounce above $80k may not sign a right away bullish reversal for the market.

Supply: UNI/USDT on TradingView

On the 4-hour chart, the value motion of the previous ten days was bounded by a descending trendline. The current bounce was unable to climb past the trendline, once more underlining bullish weak point.

Though the RSI climbed above impartial 50, bulls should stay cautious. The OBV has additionally set a barely larger excessive – An encouraging begin. Merchants can use a retest of $5.52 as assist to go lengthy. Till then, warning could also be warranted.

The $4.6-level has developed right into a short-term assist and may very well be examined quickly. A transfer under this stage would sign a bearish continuation, and merchants may look to promote UNI brief thereafter.

Disclaimer: The data introduced doesn’t represent monetary, funding, buying and selling, or different forms of recommendation and is solely the author’s opinion