Uniswap (UNI) price is down 20% in the last 24 hours, continuing its bearish trajectory after losing the $10 billion market cap it held just days ago, now sitting at $7.2 billion. The sharp decline has pushed UNI into a critical zone, with technical indicators reflecting strong downward momentum and the potential for further losses.
A looming death cross in the EMA lines signals a possible deeper correction, with key support levels at $9.64 and $8.5 being closely watched. On the upside, a reversal could see UNI targeting resistance levels at $13.5 and $16.2, with the possibility of rising toward $19 if bullish momentum gains traction.
Uniswap RSI Is Recovering From Oversold Zone
The RSI (Relative Strength Index) for Uniswap currently stands at 30.5, a slight recovery from levels around 20 seen a few hours ago. An RSI below 30 is considered oversold, indicating excessive selling pressure and the possibility of short-term undervaluation.
UNI recent dip into oversold territory suggests intense selling activity. Still, the slight rebound to 30.5 signals that selling momentum could be easing, with the potential for buyers to re-enter the market gradually.
The RSI measures the strength and speed of price movements, oscillating between 0 and 100. Its thresholds help interpret market conditions: an RSI below 30 signals oversold conditions and potential for a price rebound, while an RSI above 70 indicates overbought conditions and possible selling pressure.
With Uniswap RSI hovering just above the oversold threshold, the price may attempt to stabilize or see a mild bounce. However, if the RSI fails to rise meaningfully above 30, it could indicate continued bearish pressure and limited recovery in the short term.
