Uniswap's UNI token experienced heightened volatility, dropping nearly 8% in a single session to trade just below $6.94, with caution prevailing in the market.
A sharp breakdown in UNI's short-term structure was observed with heavy intraday selling, possible stop-loss triggers, and a volume surge exceeding 100,000.
The price of UNI extended its bearish trend, falling from above $7.40 to $6.94, marking a 7.68% loss, with sustained selling and little upward reversal.
Technical indicators indicate elevated risk for UNI, with the price breaking below the 20-day SMA and potentially testing the next major support zone around $6.35, signaling a deeper correction if the $7.08 midline is not regained.