en.coinotag.com
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Uniswap (UNI) has emerged as a focal point in the cryptocurrency market, showcasing rebound potential amidst critical support levels that demand attention.
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Traders remain vigilant as market dynamics shift, marked by rising active addresses, declining exchange reserves, and distinct liquidation trends influencing sentiment.
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“UNI must hold the $13.20 support to confirm reversal amid bearish momentum,” emphasized a recent analysis from COINOTAG.
Uniswap [UNI] faces critical price levels as traders analyze support resilience, with market indicators showing cautious optimism in a bearish landscape.
UNI price analysis: Will support levels hold?
Uniswap has faced substantial selling pressure, illustrated by its sharp decline from an earlier high of $15.32 down to the current price range.
Recent Fibonacci retracement levels have identified crucial resistance points at $15.90 and $17.06 that UNI must surpass to regain upward momentum in the market.
Additionally, the parabolic SAR indicator, currently at $14.90, suggests that the bearish trend could persist unless the price maintains the $13.20 support level.
A potential failure to hold this zone may prompt further declines towards $12.88, intensifying concerns among investors. Attention remains fixed on buyer activity at this pivotal threshold.