Uniswap (UNI), a DeFi sector coin on Binance, is currently trading at 7.096 USDT, up 0.64% in 24 hours. After a big rally and a sharp drop on the daily chart, things look calm for now.
24-hour snapshot:
High: 7.300
Low: 6.890
Volume: 3.83M UNI (27.20M USDT)
Daily chart observations:
Price climbed from 6.000 to as high as 10.942. It is now down roughly 35% from that peak.
Price is currently below MA(7) (7.239) and MA(25) (7.854), but well above MA(99) (5.962).
Recent candles are small, and volume is lower than during the earlier rally. This means selling pressure has eased, but buyers have not stepped in strongly yet.
Performance over time:
7 days: -4.70%
30 days: -22.43%
90 days: +85.45%
180 days: +119.72%
1 year: +16.40%
In the short term, price has been heading down, but on a 3 to 6 month view it is still sitting on big gains.
Order book: Bids are at 47.12% and asks at 52.88%. Sellers are slightly ahead, but the gap is very small, so this is not a clear signal.
What to watch:
Whether price can get back above MA(7)
Where the next support is if price drops below 6.890
Whether volume picks up, since no move is sustainable without it
My take: After the big drop, UNI is now consolidating. It needs a clear breakout or breakdown with volume to set its direction. Until then, rushing into an entry could be risky.
This is not financial advice, just my personal observation. Do your own research (DYOR) before investing.
#Uniswap #UNI #Crypto #defi #Binance $UNI $BTC