Uniswap is struggling to regain upward momentum after a multi-session decline pushed the token back toward the $6 region.
The broader market retreat, combined with fading derivatives participation, has placed the coin in a vulnerable position as traders evaluate whether the recent slowdown marks consolidation or a precursor to deeper losses. With technical indicators pointing firmly downward, the coin enters a pivotal phase where sentiment and momentum must shift to avoid further deterioration.
Open Interest Drop Shows Traders Exiting as UNI Extends Its Downtrend
UNI/USD has been in a pronounced downtrend across recent sessions, falling from highs above $8 earlier in the month to current levels around $6.13. Throughout this pullback, a sequence of lower highs and lower lows has confirmed persistent selling pressure. Despite this, price action has begun to narrow slightly from November 22 onward, showing early signs of consolidation around the $6.00–$6.30 range.
Source: Open Interest
Open interest has declined in parallel with the price drop, sliding from peaks above 201.8 million to nearly 201.6 million contracts. A reduction in OI during a falling market typically implies that traders are closing positions rather than building new exposure. This behaviour often reflects uncertainty and a preference to step aside as volatility increases and conviction weakens.
The recent stabilisation in both price and open interest suggests a temporary pause in directional momentum. However, it does not yet signal a shift in bias. Traders appear to be waiting for clearer cues before re-engaging in size. A breakdown below $6.00 paired with rising open interest would indicate new short positioning, while a rise above $6.40 with OI expansion could signal emerging bullish interest.
BraveNewCoin Data Shows UNI Sliding 1.53% as Market Cap Holds Steady
According to BraveNewCoin, Uniswap is trading at $6.24, reflecting a 1.53% decline over the past 24 hours. The decentralised-exchange token maintains a market cap of $3.93 billion, ranking it #39 among digital assets, with 629.9 million tokens in circulating supply. Daily trading volume stands near $488 million, demonstrating sustained engagement despite the broader downturn.
The coin’s recent price behaviour has seen tight ranges forming between $6 and $6.40, signalling a compression phase. While the downside move has been controlled, the lack of a meaningful bullish response emphasises market caution. The token’s long-term narrative remains driven by its role in decentralised trading, but near-term sentiment appears more sensitive to macro uncertainty and risk-off conditions.
The 24-hour decline mirrors broader sector weakness, especially among mid-cap altcoins. Although the token’s fundamentals remain intact, the token faces the same liquidity and sentiment challenges affecting many layer-one and DeFi assets. Traders will be watching whether the $6 region serves as a launchpad for stabilisation or if it becomes a new resistance level in the coming weeks.
Technical Indicators Highlight Downside Risk as MACD and RSI Turn Bearish
Technical data from TradingView reinforces the weakening trend. The token has fallen sharply below the daily Bollinger Band, indicating sustained seller dominance. The inability to reclaim the middle band showcases a lack of upward momentum, while the lower band offers minor support around the $4.73–$5.00 region.
Source: TradingView
Momentum indicators paint a similar picture. The MACD line remains below the signal line, with the histogram printing negative bars near -0.134, signalling persistent bearish pressure. There are no signs of convergence or a bullish crossover, underscoring the absence of reversal momentum. Until the MACD slope softens, downside risk remains elevated.
The RSI sits around 43, below neutral territory, indicating weakening demand but not yet oversold conditions. This leaves room for additional downside before a natural bounce becomes more probable. Traders should monitor whether RSI stabilises above 40 or begins declining toward oversold levels, which could invite short-term dip-buyers.
UNI Price Prediction Outlook
Short-term outlook remains bearish-to-neutral, with the $6 support zone acting as a critical threshold. A break below this level with increasing open interest could open the path toward $5.20 and potentially the $4.70 Bollinger Band support. For a bullish shift, the asset needs to reclaim the $6.60–$7.00 region, accompanied by improving MACD momentum and a rising RSI.