Price Analysis

Uniswap Price Faces Supply Pressure At $6.8; Is Correction Phase Not Over?

The Uniswap price wavering between the narrow range of $6.7 and $5.7 barriers indicates a no-trading zone. So when should you buy it?
Published by
Uniswap Price Faces Supply Pressure At $6.8; Is Correction Phase Not Over?

The recent correction in Uniswap coin price stalled at the combined support of 0.618 Fibonacci retracement level and $5.7. Over the past two weeks, the altcoin rebounded from this support twice, indicating a high accumulation zone. However, the coin price struggling to surpass the $6.8 resistance creates a narrow range.

Advertisement

Key points from Uniswap analysis:

  • The Uniswap price wavering in a no-trading zone 
  • An evident bullish divergence bolsters the market sentiment towards a $6.8 breakout.
  • The 24-hour trading volume in the Uniswap token is $137 Million, indicating a 7% gain.

Source-Tradingview

A second bullish reversal backed by increasing volume activity indicates a genuine recovery in market value. Moreover, the W shape formation reveals a double bottom pattern in the daily time frame chart. Furthermore, this bullish reversal pattern hints the sellers are struggling to continue their downfall, and thus, the replicated bullish momentum turns the table on their side.

Earlier today, the Uniswap price showcased a 7.6% high and gave a bullish breakout from the $6.8 neckline resistance. Thus, this breakout opportunity will offer an early signal for the resumption of prior by hitting the first target of 17.3% higher at $8.

However, the coin price witnessed strong selling pressure at $6.8 resistance, resulting in a long-wick rejection candle. If the daily candle closes below the aforementioned resistance and the prices revert low, the bullish pattern will get invalidated. 

Thus, the coin price resonates between the two high areas of interest(AOI), and the technical chart hints at a minor consolidation phase. Therefore, this zone can be considered a no-trading zone, and its breakout will determine Uniswap’s future price.

Considering the bearish scenario, the breakdown below the $5.7 support will extend the price correction to the $4.6 support zone.

Advertisement

Technical indicator

EMAs: The crucial EMAs(20, 50, and 100) accumulated near $6.8 resistance provide some additional barriers against buyers. 

RSI indicator: Despite a consolidation, the daily RSI slope shows a tremendous rise indicating growth e in underlying bullishness and a higher possibility for a $6.7 breakout.

Resistance levels- $6.8 and $8

Support levels- $5.72 and $4.6

Advertisement

Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Dogecoin Price Prediction as $23M Leaves Exchanges—Is the Parabolic Phase Beginning?

Dogecoin price has entered a critical phase as on-chain data and analyst projections align toward…

October 9, 2025
  • Price Analysis

Pi Network Price Collapses as Analyst Proposes Turnaround Tweaks

Pi Network price continues to crash this month and is now trading at a record…

October 9, 2025
  • Price Analysis

Solana (SOL) Price Prediction: Analyst Eyes $1,300 as SOL DAT Company Plans 5% Supply Acquisition

Solana price continues to attract renewed market interest as analysts and institutions align on a…

October 9, 2025
  • Price Analysis

Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?

Bitcoin price continues to trade within a defined consolidation range as the broader crypto market…

October 8, 2025
  • Price Analysis

Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B

Solana price pulled back today, Oct. 8, mirroring the performance of the broader crypto market,…

October 8, 2025
  • Price Analysis

XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip

The XRP price continues to draw attention as market analyst, Ali Charts, warns of a…

October 8, 2025