Uniswap Drops 7.27% to $8.19 as Technical Levels Define Next Range

Uniswap (UNI) fell 7.27% over 24 hours to $8.19 on Oct. 7 at 4:34 a.m. ET (08:34 UTC), leaving the token near its lower Bollinger Band and placing several technical levels in focus.

UNI traded between an $8.95 high and an $8.06 low. Its Bollinger Bands stood at $8.18 on the lower end, $9.07 at the midpoint and $9.96 at the upper end. The %B reading was 0.0085.

Binance spot volume totaled $75.9 million over the 24-hour period. The moving averages were SMA 7 at $8.84, SMA 20 at $9.07, EMA 12 at $8.80, EMA 26 at $8.33, SMA 50 at $6.98 and SMA 200 at $4.25.

Momentum readings included Stochastic %K at 6.26, Stochastic %D at 5.01 and a relative strength index of 48.76. The moving average convergence-divergence histogram was at zero.

Binance Futures’ top-trader long/short ratio was 2.05:1, with 67.2% of positions long. Retail accounts were 61.6% long.

Order flow was less supportive. The one-hour taker buy/sell ratio was 0.9437, with sell volume of 674,981 against buy volume of 636,955. Open interest rose 1.57% while UNI declined 7.27%.

The technical path places $8.40 as the first level above the current price, followed by $8.74, $9.07 and $9.29. On the downside, the levels are $7.85, $7.51 and $6.98. A move below $8.06 would invalidate the stated rebound setup, while a daily close above $9.07 would weaken the bearish setup.

CME Group plans to introduce standard and Micro UNI futures on Oct. 19, subject to regulatory approval. The contracts are listed at 10,000 UNI and 1,000 UNI, respectively. TokenPost previously covered CME Group’s planned UNI futures launch.

UNI is the ERC-20 governance token associated with the Uniswap decentralized-exchange protocol. The token is designed to support community ownership and governance.