The cryptocurrency market is currently under intense pressure as global economic tensions continue to rise. Uniswap (UNI), one of the leading decentralized exchanges, has experienced sharp price volatility, highlighting the broader market uncertainty driven by geopolitical factors. Recent movements showcase UNI’s price swinging within a 10.9% range, reflecting traders’ cautious approach amid risk-off sentiment and potential opportunistic plays.
Despite these challenging conditions, Uniswap has demonstrated resilience by breaking above key resistance levels, hinting at possible stabilization after its recent turbulence. Technical analysis reveals that UNI’s price fluctuated significantly over the past 24 hours, with a high of $6.589 and a low of $5.945, according to recent data models. Notably, during a selloff between 4 PM and 1 AM, the token plunged from $6.510 to $5.954 with high trading volume, establishing a strong support zone around the $5.95 level.
Following this sharp decline, UNI attempted a modest recovery, encountering resistance around $6.12 and consolidating in the $6.00-$6.05 range. In recent trading activity, the token experienced a brief downward trend from $6.11 to $6.017 but then reversed course, surging approximately 3.6% from $6.03 to $6.05 with increased volume, signaling renewed buying interest.
This price action has formed a bullish channel, with short-term resistance at roughly $6.055 and support at $6.03, suggesting that UNI may be stabilizing after significant volatility. Traders are closely watching these levels for clues about the next move, especially as broader geopolitical issues continue to influence investor sentiment in the crypto space.
As the market navigates these turbulent times, Uniswap’s ability to hold key support levels and break above resistance could signal a potential end to its recent streak of volatility. However, ongoing global economic uncertainties mean traders remain cautious, making technical analysis and market sentiment crucial tools for navigating the current landscape.
