Uniswap Trades Near Lower Bollinger Band as CME Plans UNI Futures

Uniswap (UNI) traded near its lower Bollinger Band early Oct. 13 as the token remained below several moving averages, leaving $6.92 as immediate support and $7.89 as immediate resistance.

UNI was priced at $7.49 on Binance spot at 4:38 a.m. ET (08:38 UTC), down 2.69% over 24 hours. The token traded between $6.74 and $7.71 during that period.

The lower Bollinger Band stood at $6.82, while the middle and upper bands were $8.53 and $10.25. UNI was also below its 12-period exponential moving average at $7.89, its 26-period EMA at $7.97 and its 20-day simple moving average at $8.53.

Momentum readings were mixed. The 14-period relative strength index was 45.18. The moving average convergence-divergence line and signal line were both negative at -0.0783, while the histogram was zero. Stochastic %K was 29.12 and %D was 23.30.

The technical levels placed stronger resistance at $8.28 and stronger support at $6.35. The eight-hour funding rate was 0.0056%, while the long-short account ratio at 3 a.m. ET (07:00 UTC) was 1.3175, with 56.9% of accounts net long and 43.1% net short.

The market snapshot comes as CME Group plans to launch standard and Micro Uniswap futures on Oct. 19, pending regulatory review. The standard contracts would represent 10,000 UNI, while the Micro contracts would represent 1,000 UNI.