Uniswap Bears Strike Back: Fresh Decline Begins After $12.3 Barrier Holds

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Uniswap Bears Strike Back: Fresh Decline Begins After $12.3 Barrier Holds - NewsBTC

Quick Summary:

Will the token find support and recover, or is a deeper decline on the horizon? Why Bulls Failed To Break $12.3: Market Sentiment Explained Uniswap’s failure to break past the $12.3 resistance level highlights a shift in market sentiment, where bearish pressure outweighed bullish momentum.

The 100-day SMA, often seen as a key indicator of the longer-term trend, suggests that the market sentiment is tilted toward selling. Additionally, the ongoing decline in the RSI indicates that selling pressure is growing stronger.

Key Support Levels To Watch As Uniswap Slides As Uniswap slides lower, key support levels will be crucial in determining whether the price can stabilize or if more declines are likely.