Uniswap’s native token originally broke under his Uptrend line after not having momentum over $ 6.00 support level.
The fall followed the formation of an increasing channel earlier in the day, but this structure collapsed during high volume sales, including an increase of over 1.4 million units, as prices briefly affected $ 6.00.
However, the collapse showed temporarily. Uni quickly returned course and climbed back to $ 6.18, indicating a strong dip -purchasing interest and suggested that the uptrend could still be intact if support near $ 6.05 continues to hold.
Technical analysis highlights
- Uni formed a clear rising channel throughout most of the day with remarkable support of $ 6.00 level supported by volume above average.
- A sharp reversing occurred when UNI cards broke under its appearance line and triggered high volume sales.
- Two significant volume tips occurred: over 455,000 units of 01:38 and over 1.4 million units of 01:42.
- The token rebound quickly after the collapse, regained land and push back towards the area $ 6.18.
- The original resistance was found at $ 6.19, which now appears within reach again when Bullish Momentum returns.
- Price action showed a significant intraday area of 0.226 (3.78%), which highlighted sustained volatility
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