Uniswap price has faced mounting pressure as it trades below critical moving averages, stirring cautious sentiment among market participants.
Recent price action points to a potential test of the $9 support area, a key horizontal level that traders are closely monitoring. Volume patterns and technical indicators together suggest distribution, warning of possible further downside unless a clear rebound is confirmed.
Price Setup Reflects Rounding-Top Formation and Resistance Levels
The daily price structure forms a distinct, rounded top pattern, with the swing high near $12.30 followed by a sequence of lower highs into early September. Currently, the price sits under both the 9-day exponential moving average (EMA) at approximately $9.77 and the 50-day simple moving average (SMA) near $10.24. The shorter EMA has crossed below the longer SMA, signaling a shift from bullish momentum toward a neutral to bearish stance in the short term.
Source: X
Volume on rallies has been comparatively muted, with thinner green bars, while declines are accompanied by heavier red volume bars. This volume profile supports the interpretation of a distribution phase, where selling dominates and buying interest remains subdued.
Immediate horizontal support lies around $9.00, marked by recent swing lows and the current test area. Should this support break with increased selling volume, the next notable demand zone lies between $8.20 and $8.50, a consolidation region from mid-year.
On the upside, resistance bands extend across the $10.20 to $10.50 zone, centered on the 50-day SMA, with a stronger supply near the $12.00–$12.30 range forming the peak of the previous rally.
Intraday Price Action and Volume Reflect Choppy, Range-Bound Trading
Data from intraday metrics reveals that UNI price has been fluctuating tightly between roughly $9.30 and $9.60, with the 24-hour volume holding at an estimated $323 million to $341 million. These volumes indicate strong liquidity, enabling large trades without excessive slippage. However, the intraday price trace shows jagged, repetitive peaks and troughs, characteristic of algorithmic and market-maker activity absorbing orders within a narrow band.
Source: BraveNewCoin
This microstructure suggests current trading largely reflects distribution or neutral rebalancing rather than strong accumulation. Immediate intraday support is tested near $9.30, with resistance forming around $9.60 to $9.65. A clear breakout on high volume beyond these levels is likely to dictate the near-term price direction, either challenging the $10.00 zone on the upside or retesting the $9.00 floor.
Short-term traders can capitalize on range-bound movement with tight stops, while swing traders should wait for more definitive volume-backed moves. Market participants are advised to monitor broader influences such as major cryptocurrency trends and macroeconomic news, which can quickly resolve intra-day indecision.
Momentum and Money Flow Indicators Signal Bearish Bias
At present, the daily MACD reading stands at -0.219 with the signal line at -0.076 and a negative histogram of -0.143, illustrating active bearish momentum. The MACD line remains below the signal line, underscoring selling pressure.
The Chaikin Money Flow (CMF) indicator reflects a value of -0.06 over the 20-day lookback, implying consistent net capital outflows. Price has rolled off the mid-August highs near $12.30 down to approximately $9.40, aligning with these technical signals pointing toward distribution and seller dominance.
Source: TradingView
While the MACD histogram shows slightly shrinking red bars, suggestive of potential momentum easing, this alone does not confirm a bullish reversal. Similarly, a brief uptick in CMF remains below zero, indicating ongoing net selling despite minor influxes on price bounces.
For a credible shift toward bullishness, traders would look for the MACD to cross above its signal line with a green histogram, and CMF to move above zero, preferably above +0.05, accompanied by rising daily volume. Without these, the current indicators favor caution.