Uniswap (UNI) Attempts Rally but Faces Significant Roadblocks
Friday, 17 May 2024, 11:00
Uniswap Struggles to Rally Amid Strong Resistance
Low Market Activity
- Uniswap is poised to break above the upper line of a horizontal channel but faces downward pressure.
- The token has been trading within a narrow range, creating a horizontal channel.
- Decline in whale transactions has led to reduced trading volume, making the market less liquid.
- Futures open interest has also been downtrend in the last week.
Conclusion: UNI is struggling to overcome resistance and may fall back towards support levels as bearish pressures persist.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.