Uniswap Shows Bullish Pattern As Price Fails To Break $6.8; Are Bears In Control?

UNI’s price shows the first sign of bounce after forming a bullish pattern as the price gets rejected into a range channel. UNI bounced off its downtrend movement as the price broke its resistance of $6.8 but failed to hold this region. The price of UNI continues in its range movement as the price gets rejected into a range and trades below the 50 Exponential Moving Average (EMA). Uniswap (UNI), a one-time favorite of many in the crypto industry, has failed to live up to the hype it once had as its price rallied from a low of $3 to $30. The crypto market, including the big players like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), has had a quiet month as the prices of most altcoins have found themselves fighting for survival as they seek to defend their key support areas. The price of UNI, despite having a good start in recent weeks, formed a bullish pattern but failed to complement this structure with some rally. (Data from Binance) Related Reading: Altcoin Exchange Dominance Rises To 50%, What Does It Mean For Bitcoin? Uniswap (UNI) Price Analysis On The Weekly Chart. Uniswap has struggled to regain its bullish momentum in recent times; despite the uncertainty that has befallen the crypto space, the price of UNI hasn’t enjoyed a measure of relief after showing so much strength on the weekly chart rallying from a low of $3.5 to a high of $9.5 before facing rejection from that region. After the price of U...