Uniswap price analysis: Cryptocurrency faces repulsion above $5.97 as bears steer safe

The Uniswap price analysis shows that, since yesterday, the price has been falling as the bears have battled to maintain the upper hand. The price has dropped to the $5.89 mark as the bears have regained strength, confirming the downtrend that was seen yesterday.

Timeline of Uniswap

Uniswap price analysis for today is showing that the coin is in a downward trend after a bullish pressure that lingered around the market for a few days. The coin has been below the support level of $5.91, which is a  sign of bearishness in the market.

Uniswap V3 protocol's Business Source License (BSL) has expired, allowing developers to fork the code and deploy their own decentralized exchange (DEX). The new “General Public License” now applies to the protocol.

On April 1, Business Source License (BSL) for Uniswap v3 protocol expired, allowing developers to deploy their own decentralized exchange (DEX), according to the protocol's documentation. With this expiration, developers can now fork the code and use it as an open source.

Given that the price has fallen today, Uniswap price analysis shows a bearish tendency. The cryptocurrency is modestly covering the range downwards as coin value declines against the wishes of buyers, according to the most current technical analysis.

Uniswap price analysis shows bullish sentiment developing in the market, as UNI/USD continues to surge after hitting a yearly high at $5.84. The pair had been trading around $5.50.

The Uniswap price analysis indicates that the bearish momentum is once again accelerating. The price has significantly dropped over the last week, and today's pattern is continuing that downward trend.

Uniswap price analysis reveals that the market is following a negative trend below the $6 mark and is likely to remain today on March 26, 2023. On March 25, 2023, UNI/USD exhibited substantial upward momentum, as the price rose significantly from $6.1 to $6.4.

Uniswap price analysis shows the bears have been able to suppress the price levels below the $5.96 level during the latest downtrend. The bears are reigning over the price charts as the price has decreased again during the day.

Uniswap price analysis shows that the price is currently in a bullish trend as it has broken out of the descending triangle formation. The next level of resistance is at $6.49, and if the price can sustain its current momentum, it is likely to test this level in the near future.

Uniswap [UNI] became the talk of the town as the social activity for the decentralized exchange-based token skyrocketed. According to analytics firm LunarCrush, the total number of social mentions for UNI rose to nearly 42k at the time of writing, the highest in over two months.