Uniswap Price Prediction Signals Caution as Bears Drag UNI Toward $10 Support Zone

Uniswap (UNI) recently posted an extended rally, but new technical indicators now suggest rising bearish pressure. After tapping local highs near $11.70, price action has started to weaken.

Traders and analysts are closely watching support around the $10 region for a potential reversal or breakdown. At the time of writing, UNI trades at $10.63, with early signs of stabilization but no confirmed recovery.

Bearish Chart Formation Points to Local Top

Analyst Smcapitalclub shared a 6-hour UNI/USDT chart indicating a possible local top near the $11.70 mark. The chart displayed a curved resistance arc at this high, signaling that the asset may have peaked in its short-term uptrend.

This pattern is typically followed by a corrective move, and the current candles confirm early downside momentum. UNI has already dropped below $11.00, with momentum now favoring sellers.

Source: X

The analyst highlighted a support region between $9.60 and $10.20, previously a key consolidation range before the breakout. The price appears on track to retest this area as former resistance now transitions to potential support. A return to this zone would not be unusual, as assets often revisit breakout points before resuming broader trends. Whether buyers defend this region or allow further decline will likely determine the asset’s next direction.

24-Hour Volume and Price Action Reinforce Downside Risk

In the 24-hour chart from July 28 to July 29, UNI’s price declined by 6.09%, falling from $11.05 to $10.43. This sharp pullback aligns with a period of strong distribution, where sellers took advantage of the rally to lock in profits.

The trading volume during this session reached over $526 million, underscoring active participation in the decline.

Source: BraveNewCoin

Despite intraday attempts to stabilize, each rebound was short-lived and failed to reclaim previous highs. The price ranged between $10.30 and $10.50 for several hours, suggesting temporary buyer interest in this area.

However, any break below $10.30 could invite renewed selling toward the $10.00 psychological level, where market behavior could shift again. The consistent lower highs reinforce a short-term bearish structure that remains intact unless buyers reclaim levels above $11.20.

Indicators Support a Near-Term Bullish Bias If $10.20 Holds

At the time of writing, Uniswap is trading at $10.63, up 2.15% on the day. Despite recent bearish pressure, the broader trend on the daily timeframe still shows strength. The price maintains higher highs and higher lows, pointing to a potential continuation pattern, provided that support above $10.20 is preserved. This consolidation zone may act as a springboard for a renewed rally if bullish momentum returns.

Source: TradingView

Supporting this outlook, the Chaikin Money Flow (CMF) reads 0.21, indicating sustained capital inflow. Positive CMF readings above 0.05 typically suggest institutional accumulation, and the current level remains comfortably above that threshold.

Meanwhile, the Bull and Bear Power (BBP) indicator shows 0.475, favoring buyers. The BBP histogram has turned green in recent sessions, reflecting renewed interest and positioning for possible upside continuation. These indicators together signal that any correction may be short-lived if key support zones remain intact.