Uniswap’s UNI Token Shows Signs of Weakness as Analysts Target $4.80
Uniswap’s token (UNI) has seen immense volatility throughout the past few days and weeks, with aggressive buying pressure following its launch pushing it up towards $8.50 before witnessing a massive inflow of selling pressure. Uniswap’s UNI Token Plunges Below $5.00 as Aggregated Market Sees Weakness
At the time of writing, Uniswap’s UNI token is trading down over 20% at its current price of $4.95.
Analyst: UNI’s Short-Term Outlook is Dim as BTC and ETH Flash Warning Signs
While speaking about the cryptocurrency’s near-term outlook, one analyst observed that although Uniswap’s token is entering a massive support region, the intensity of the selling pressure being placed on Bitcoin and Ethereum could force UNI lower. Altcoins like Uniswap’s governance token are currently expressing weakness across the board, which is a trend that will likely persist until Bitcoin and Ethereum find stability.
