Uniswap (UNI) Price Prediction: UNI/USDT Downward Retracement Continues

Earlier in the Uniswap daily market, a steep upward retracement was observed, which saw the market breach the $7.00 price level. Although price activity is currently trending downward, it remains above this level. The ongoing retracement does not appear to be particularly strong at the moment.

UNI/USDT Long-Term Trend: Bullish (Daily Chart)

Key Price Levels:

Resistance: $7.50, $8.00, $8.50

Support: $7.00, $6.50, $6.00

Price activity on the Uniswap daily chart is currently above the $7.00 level. The ongoing session is bearish but represented by a relatively small candle, indicating weak selling pressure. Trading remains above the middle band of the Bollinger Bands indicator.