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UniSwap (UNI) Price May Rebound After 18% Correction

Uniswap (UNI) price could be heading for a sideways movement rather than a further decline, given that it has already declined significantly..

Market signals in general and investor actions are sending mixed signals.

Stabilize prices or continue to fall?

UniSwap (UNI) price has been trying to break through a major resistance barrier for some time, but without success. As a result, it fell until it reached a crucial support level. The altcoin appears to be at risk of further declines, as shown by the relative strength index (RSI).

The RSI indicator is a momentum oscillator that measures the speed and variability of price movements and ranges between 0 and 100. It helps identify instances of overbought or oversold in the market, indicating potential reversal points .

This indicator is currently in the bearish zone, below the neutral line set at 50.0. A decline in this area is seen as a signal that the digital asset could fall further.

Uniswap RSI.
Uniswap RSI. Source: Commercial view

On the other hand, investors suggest Different result for the UNI part. Even though market signals generally do not support a recovery, investors are eagerly hoping for a recovery.

This is evident in the continued increase in the average age of money (MCA). This metric calculates the average age of all coins in the cryptocurrency network, reflecting the time since each coin last moved. It helps assess long-term retention level and potential market sentiment.

A higher average coin life (ACL) indicates that UNI holders prefer to hold the coin for the long term. This can help counter potential selling pressure.

Uniswap MCA.
Uniswap MC Algeria. Source: Feeling

Since Uniswap is first, its price may conflict with bearish market signals.

UNI Swap Price Forecast: Key Levels to Watch

UniSwap's price has fallen more than 9% in the past 24 hours, leaving the altcoin trading at $9.4. As a result, UNI price has lost support at $10.0 and is looking to test $9.0 as the next critical support floor.

This level has been tested several times in the past. The signals above give mixed signals, indicating that a sideways price movement is the likely outcome. The $9.0 and $11.6 levels, the resistance that UNI failed to break, will form consolidation boundaries.

Uniswap price analysis.
Uniswap price analysis. Source: Commercial view

But if bearish signals dominate the market, it would not be surprising to see UniSwap price collapse below $9.0. This would send the altcoin to $8.2 or lower, thus invalidating the bullish thesis.

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