UNI Technical Analysis: Sellers Takedown $14 But The Retest Awaits

The ongoing correction phase in the UNI coin price gains momentum with the falling crypto market. Hence, Uniswap approaches the $10 mark. Uniswap is a well-known trading protocol that is decentralized and is renowned for its ability to facilitate the automated trading of decentralized finance (DeFi) tokens. It increases efficiency by solving the issue of liquidity through automated solutions, eliminating the challenges that affected the first decentralized exchanges. In the latest news, Uniswap founder Hayden Adams, according to a tweet from Jan. 23 tweet, claimed Hayden Adams claimed that JPMorgan Chase had closed his account without warning or explanation. Hayden Adams also revealed that numerous firms and individuals were similarly targeted. Let us move ahead to read about Uniswap technical analysis. Past Performance of UNI The UNI coin price breaks below the freshly formed support level at $14 with a free fall of 40% in the past week. The coin price has been in a downtrend for more than 3 months now. The price breaks multiple support levels in the correction of 68% in these months. Uniswap price rests close to the $10 support level with a long tail formation indicating a lower price rejection. UNI/USD Daily Chart UNI Technical Analysis The UNI coin price action maintains the correction phase in action and has gained increased trend momentum with the bears overtaking the crypto-verse. The crucial Simple Moving Averages (20,...