UNI Technical Analysis: Reverting Prices Struggle At Higher Levels

UNI technical analysis shows a bullish reversal ready to sustain the $6.65 mark and start a bullish trend preparing to overtake opposing EMAs. The UNI prices trading at $6.67, display a 5.71% gain. The breakout from the immediate resistance of $6.65 teases a recovery opportunity for UNI. However, the low volume activity reflects a lack of bullish commitment. Will buyers regain the $6.654 mark, or the sellers strike back at higher levels? Key Points: A bullish breakout from the $6.65 may stall the prevailing correction. A bearish crossover between the 50-and-100-day EMA encourages the continuation of price correction. The 24-hour trading volume in the Uniswap token is $121.3 million, indicating a 2.78% loss. Source – TradingView UNI Technical Analysis The widespread correction in the crypto market reverted the UNI price from the $10 supply zone and caused a 41% retracement. The bearish pullback plunged the price to the shared support of $5.75 and the 0.618 Fibonacci retracement level. While the crypto market is still uncertain, the UNI price has surged 14% in the past five days and challenges the immediate resistance of $6.5. A bullish breakout from this resistance will signal the end of the past correction rally. The breakout rally may surge the prices by 22% and push its $8 resistance. Therefore, until the UNI price is below $8, the chances for the continuation of the retracement rally in fair. However, if prices pierce this ...