![Uniswap [UNI] stuck at a critical price point: Will it rally or dip?](https://i.headtopics.com/images/2023/9/6/cryptoamb/uniswap-uni-stuck-at-a-critical-price-point-will-i-uniswap-uni-stuck-at-a-critical-price-point-will-i-C894E00A50631766A952D0CF1798B0BF.webp)
Uniswap hovered over a key support level for bulls, as bears extended their dominance of its price action.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Rising Mean coin age showed that bulls could not be ruled out just yet.hovered over a key support level, as bears extended their dominance of its price action. After ranging between a compact price zone of $4.5 to $4.9 over a two-week period, sellers broke out with a dip to the $4.3 support level.
Bulls would be looking to the level to have the same effect after sustained selling pressure in mid-August led to an erasure of all of UNI’s July gains. On the other hand, a bearish capture of this support level would signal the possibility of Uniswap hitting the year-low of $3.6 again. Both the Relative Strength Index and the Chaikin Money Flow revealed a bearish advantage. The RSI remained just above the oversold zone while the CMF stayed under the zero mark, highlighting the lack of demand and dwindling capital inflows.
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