UNI Technical Analysis: Bullish Failure Soon To Test $10

UNI coin price fails to surpass the 100-day EMA resulting in a higher price rejection with a long-wick formation. Will sellers exceed the $10 support level? Key technical points: UNI prices have fallen 7.71% in the past 24 hours. In addition, the Uniswap token prices fail to withstand the selling pressure at the 100-day EMA. Finally, the 24-hour trading volume of Uniswap is $390 Million, marking an 11.86% fall. Past Performance of UNI UNI coin price shows a bullish reversal from the $8.25 support level resulting in the trendline and the 50-day EMA breakout. The recovery rally accounts for a 50% jump within three weeks before facing rejection from the 100-day EMA. The rejection leads to a higher price rejection candle, followed by a bearish candle to the $10 mark. Source-Tradingview UNI Technical Analysis UNI coin price shows a surge in selling pressure resulting in the recent retracement. However, the retracement comes as a retest of the double bottom retest with the neckline at the $10 mark. The crucial daily EMAs (50, 100, and 200-days) maintain a bearish alignment with the 100-day EMAs giving dynamic resistance. However, the reversal in the 50-day EMA might shortly provide support. RSI Indicator: The RSI slope fails to surpass the overbought zone at the 70% mark. However, the 14-day SMA shows a phenomenal bullish reversal and supports the falling RSI slope. MACD Indicator: The MACD and signal lines give a bearish crossover ...