• Uniswap (UNI) is trading below $10, extending bearish momentum.
• Daily and weekly declines highlight persistent selling pressure.
• RSI and MACD confirm oversold conditions with downside risk.
• Open interest drop signals reduced leverage but sustained volatility.

Uniswap (UNI) continues to mirror the weakness of the broader cryptocurrency market. Over the past 24 hours, UNI has fallen by almost 5.22%, while the weekly decline now stands at 7.78%. At press time, UNI is trading at $9.68 with a stable 24-hour trading volume of $530.13 million and a market capitalization of $6.08 billion.

Rejection from the $10.50–$11.00 resistance zone has deepened bearish sentiment. The $10 threshold, once a strong psychological level, has now become a barrier to recovery attempts. On the 4-hour chart, a series of red candles highlights the sustained pressure from sellers. Without a rebound, UNI risks further short-term weakness.

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Uniswap Technical Structure Signals Weakness

The downward trajectory remains intact as indicators point to rising volatility. Bollinger Bands show UNI trading near the lower band at $9.39, signaling oversold conditions. However, bearish dominance continues to block a meaningful bounce.

The $9.39–$9.00 support zone has become a key level. A breakdown beneath this area could trigger a drop toward $8.50, a historical support region that may draw buyers looking for discounted entry.

For any recovery to take shape, Uniswap must reclaim the $10.40–$10.60 region. Achieving this level would allow the token to ease selling pressure and attempt a move toward the next resistance at $11.50–$12.00. Until that breakout occurs, bearish momentum is likely to continue dominating short-term market action.

RSI and MACD Confirm Bearish Bias

Momentum indicators add weight to downside risks. The Relative Strength Index is at 29.67, firmly in oversold territory. This reading underscores heavy selling pressure but also leaves room for brief relief bounces. The RSI moving average sits at 40.74, showing a wide divergence and reinforcing the bearish outlook.

The MACD indicator aligns with this weakness. The MACD line at -0.28994 has widened below the signal line at -0.14344. Histogram bars extend further into negative territory, reflecting continued bearish sentiment. Without a swift recovery in buying momentum, Uniswap may struggle to stabilize in the near term.

Open Interest Suggests Volatility Ahead

Uniswap’s derivatives market reflects cautious adjustments. Open interest decreased by 3.08% to $653.07 million, reflecting that investors closed leveraged positions after successive accumulations. Even though open interest is elevated, it still reflects sustained speculative involvement in UNI markets.

The OI weighted funding rate is 0.074%, which is an indicator of moderate leverage activity in relation to liquidity. This balance minimizes risks of excessive overheating while leaving space for volatile fluctuations.

Market participants are paying close attention to whether UNI will manage to hold its key $9 support level or plunge further downwards before a more general recovery attempt.

Also Read: Uniswap (UNI) Breakout Signals Bullish Trend: Next Target at $15