Uniswap price analysis: UNI faces bearish crossover after failing to test $6.38 resistance

Uniswap price analysis remains bearish today, following from yesterday's massive 16 percent decline that took price down to $5.25 support. UNI declined more than 2 percent over the past 24 hours to as low as $5.36 with trading volume rising above 55 percent.

Timeline of Uniswap

Binance CEO Changpeng Zhao ("CZ") sent a tweet on July 11 alarming the Twitter Inc (NYSE: TWTR) community of a potential exploit on Uniswap (CRYPTO: UNI). What Happened: Uniswap is among the original DeFi applications on Ethereum (CRYPTO: ETH).

Under the influence of the inverted head and shoulder pattern, the Uniswap(UNI) pattern pierced the monthly resistance of $6. Thus, the coin buyers acquire another foothold to climb higher in the price chart.

Uniswap saw a steep decline in trading volume during the month of June, the lowest the decentralized exchange (DEX) has recorded since July 2021.  The post Uniswap Volume Crashes More Than $25 Billion in June to 10-Month Low appeared first on BeInCrypto.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Following its latest bullish retaliation, Uniswap [UNI] has secured a spot above the 20/50/200 EMA while revealing a near-term buying edge.

Over the past week, the Uniswap(UNI) price has increased by more than 35% resulting in the breakout of the $6 mark. Additionally, the getaway unleashes the trapped bullish momentum within an inverted and shoulder pattern, increasing the likelihood of a police rally surpassing the 100-day EMA to reach the 200-day EMA.

Uniswap (UNI) is in an uptrend as the price has risen above the moving average lines. The cryptocurrency is making a huge push towards the previous highs as the bulls break through the resistance at $5.70.

Uniswap price analysis shows a complete bullish trend in the market as the prices went up by 3.07 in the last 24 hours. The coin is trading at $5.41 and is facing immediate resistance at $5.47.

Uniswap price analysis has been on a steady decline over the past 24 hours, with the token losing over 5% of its value. The UNI/USD pair is currently trading at $4.87, after opening the day at $5.14.

The price of Uniswap (UNI) has resumed its sideways movement after failing to break the $6 resistance zone. The cryptocurrency has pulled back above the 21-day line SMA, but below the 50-day line SMA.

Uniswap price analysis shows a bearish trend that has brought the UNI/USD value down to $4.70. The market had a breakout to the upside that found resistance at $5.24, which has caused the market to roll over and head back down.