Uniswap Price Rejection Near Key Resistance Threatens Bullish Momentum

Uniswap (UNI) is facing a technical barrier that may decide its short-term direction after weeks of upward movement. Price action has slowed beneath a historical resistance zone, signaling hesitation among buyers.

With mixed signals from both volume and momentum indicators, market participants are weighing the strength of support levels against persistent overhead pressure. At the time of writing, indicators on the daily chart suggest a temporary pullback could precede the next decisive move.

Weekly Chart Hints at Reversal Near $10.85 Resistance

The weekly Uniswap (UNI/USDT) chart reflects a return to a long-standing horizontal resistance band between $10.49 and $10.85. This area previously rejected price advances in mid-2022 and again in early 2024.

The recent surge in UNI price has brought the asset back to this resistance, with current levels around $9.06. The most recent weekly candle shows early signs of weakening upward momentum, suggesting a potential stall in the rally.

Source: X

The Relative Strength Index (RSI) has entered overbought territory before edging downward, reinforcing the idea that bullish energy may be fading near the resistance. A close below $9.00 could trigger a technical retreat toward support zones around $8.42 and $7.51, both of which have previously acted as consolidation bases.

The 200-week exponential moving average (EMA), currently aligned near the resistance, further complicates the breakout scenario by acting as a dynamic cap on bullish progress.

Analyst Andrew Griffiths has noted these technical factors while opening a long position with caution. His setup considers a possible decline in market dominance as a short-term catalyst, though he anticipates a bullish resumption if UNI breaks above $10.85. Until that happens, the risk of local rejection remains prominent.

Intraday Action Shows Volatility Without Confirmation

On the 24-hour chart, Uniswap started with bullish momentum that lifted the price to a session high near $9.05. This early strength, however, faded quickly as the token faced resistance and slid back to around $8.75. The decline was gradual, with no sharp volume increase, indicating a controlled correction rather than panic selling.

Source: BraveNewCoin

During the middle portion of the session, UNI entered a sideways trading range between $8.75 and $8.85. Several small bounces occurred within this zone, reflecting temporary buyer activity. Yet none of these movements managed to reclaim the early session highs, keeping the token below the $9.00 threshold.

Trading volume during this phase remained steady but lacked intensity, suggesting indecision among participants.

Toward the session’s close, UNI rebounded slightly from the $8.75 mark to approach $8.95. This late-stage bounce lifted sentiment slightly, although the session ended with a 1.33% decline. The rebound may point to renewed interest around support, but stronger momentum or higher volume will be needed to test upper resistance zones again.

At the Time of Writing, Momentum Indicators Reflect Consolidation

The daily Uniswap chart shows a continued retracement from July’s high of $11.68, with the current price positioned at $8.94. The past few sessions have featured red candles, indicating short-term bearish control. However, Thursday’s green candle, with a 2.12% gain, introduces potential stabilization around the $8.60–$8.70 support zone.

Source: TradingView

Momentum indicators present a mixed picture. The Chaikin Money Flow (CMF) sits at 0.02, slightly above neutral, indicating mild capital inflows. This suggests some level of accumulation remains in place despite recent price declines. Sustained CMF above zero could reflect longer-term investor confidence.

The Bull and Bear Power (BBP) reading is currently negative at -1.530, indicating sellers have a stronger hand. This aligns with the recent downward pressure, though confirmation of trend continuation would require a break below current support. If BBP stabilizes while CMF continues to rise, the market could prepare for another test of resistance levels in the coming sessions.