• Uniswap is undergoing a correction after rallying close to $11.
• The 9.41% weekly decline signals selling pressure at higher levels.
• Support zones remain intact at $8.80 and $8.55.
• Resistance at $10.06 remains crucial for any renewed upside momentum.

Uniswap (UNI) touched a weekly high of $10.97 before retreating, showing that sellers became active near the $11.00 mark. The decline reflects profit-taking and hesitation among buyers at elevated levels. Despite this move, the token trades above its important moving averages, keeping the overall trend structure intact.

A decisive hurdle stands at the 200-week EMA around $10.06, which now acts as strong resistance. On the downside, UNI continues to hold above the 20 EMA at $8.88, while the 50 and 100 EMAs cluster near $8.55–$8.56 to form a firm support base. This alignment signals that buyers are defending the medium-term trend. However, failure to reclaim $10.06 could keep further upside momentum limited.

Indicators point toward mixed momentum. Bollinger Bands show a wide range, with resistance at $12.09 and midline support near $7.89. UNI recently tested the upper band but failed to hold above it, sparking the current correction. A decline under $8.80 would be the first sign of deeper weakness, while holding above this level secures the broader bullish trend.

Also Read: Uniswap Price Prediction: Oversold UNI Signals Possible Rally Toward $12

RSI and MACD Show Mixed Momentum

The Relative Strength Index (RSI) currently stands at 55.27, with the signal line at 53.91. These levels suggest UNI is in a mild uptrend but still within a neutral zone. Since the reading is far from the 70 overbought threshold, it indicates that the token still has room to move without facing immediate overbought pressure.

The Moving Average Convergence Divergence (MACD) line is positioned at 0.45381, staying above the signal line at 0.24445. The histogram remains positive at 0.69826 but shows signs of contraction. This reflects ongoing bullish strength, though weakening momentum hints at reduced buying pressure in the near term.

Uniswap Price Action Shows Trading Resilience

CoinMarketCap 24-hour market data shows that UNI traded between $9.40 and $9.80, edging gradually higher during the session. Trading volume of approximately $191.75 million indicates active buyer participation, especially in the latter part of the day, adding support to its gradual uptick. The coin’s market capitalization stands at $6.22 billion, ranking it 24th globally.

Meanwhile, mixed performance is seen in altcoins. UNI gained as much as nearly 1.6% in the past 24 hours but is down by 10.61% on the week, suggesting patchy sentiment across the board.

Overall, UNI must break and hold above $10.06 to gain traction towards the $11.00–$12.00 area. A breakdown below this level can push the token into consolidation in the neighborhood of $8.80 and $7.90, with support above $9.50 still vital to stability and preventing more losses.

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