Technical analysis by trade1638 about Symbol UNI on 9/7/2025

Uniswap (UNIUSD) is currently testing crucial support at **$5.80**, a level that has served as both psychological and technical support since January 2024. The price remains confined below key moving averages (50-day at **$6.40**, 200-day at **$7.10**), reflecting persistent bearish pressure. Trading volume has been declining during recent price drops, suggesting weakening selling momentum but also absence of strong buying interest. The daily RSI reads **38**, approaching oversold territory but not yet showing clear reversal signals. The MACD continues to trade below its signal line, though the histogram displays modest convergence, indicating potential reduction in downward momentum. Immediate resistance awaits at **$6.40** (50-day MA), with stronger resistance at the **$6.90** Fibonacci retracement level. Fundamentally, Uniswap maintains its dominance in DEX trading volume and continues to benefit from ongoing regulatory developments favoring decentralized protocols. However, these positives are being overshadowed by broader market sentiment. A decisive break below **$5.80** could trigger accelerated selling toward **$5.20** (next major support). Conversely, a reclaim of **$6.40** with substantial volume could signal near-term stabilization and potential retest of higher resistance levels.