Uniswap faces downside momentum as price slips below $8.00 with major support levels in focus
Uniswap (UNI/USDT) has come under renewed selling pressure, with its price retreating to $7.76 after failing to sustain gains above the $9.00 mark. The latest move marks a break from the recent uptrend, placing UNI at a critical support zone between $7.50 and $7.80, which could determine the next directional trend.
The daily chart shows how UNI climbed steadily over the summer months, breaking above a rising trendline that fueled optimism. However, momentum shifted as sellers stepped in around $13.00–$14.00, an area of strong resistance highlighted by repeated rejections. Since then, the token has been trending lower, giving up much of its earlier progress.
BITX Market observers are closely watching the green demand zone near $7.50, where past recoveries have originated. “If Uniswap can hold the $7.50 support, a short-term bounce toward $9.00 remains possible. But if this level gives way, the price risks sliding deeper toward $6.00,” According to BITX technical analyst.
Volume indicators also suggest growing caution among traders. A decisive breakdown below $7.50 could open the door to the next major support cluster around $5.50–$6.00, a region marked by consolidation earlier this year. On the flip side, bulls will need to reclaim resistance levels at $9.00 and $12.50 to shift momentum back in their favor.
According to BITX experts, “Uniswap’s performance reflects broader weakness across DeFi tokens. Unless buyers step in aggressively at current levels, UNI may continue to test lower supports before staging any significant recovery.”
Uniswap is at a decisive juncture. Holding the $7.50 zone could offer relief for bulls and spark a short-term rebound, but a failure here would signal renewed bearish control. Traders are advised to watch price action closely in the coming days, as UNI’s next move could set the tone for the remainder of the quarter.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.