Uniswap [UNI] prices continued to dive lower, where will it see some respite?
The strong selling pressure forced UNI to nosedive below the $6.2 and $6 levels. At the time of writing, UNI was trading at $5.84 and within a bullish order block on the daily timeframe
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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
Uniswap had a strong bearish outlook in the lower timeframes
The confluence of a higher timeframe demand zone and range lows highlighted a critical area on the price charts
Uniswap [UNI] has been in an uptrend on the daily timeframe since early July. August saw the bulls face rejection at $6.7, marking a potential range that the token would trade within in the coming weeks.
Read Uniswap’s [UNI] Price Prediction 2023-24
Bitcoin [BTC] dropped from $29.6k on 14 August to trade at $29.1k at press time. Although this was only a 1.66% drop, it has affected the sentiment in the altcoin market heavily. Uniswap faced intense selling pressure over the past 24 hours
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