Uniswap ($UNI ) - Current price is currently around $5.75 - $5.85 USD.

$UNI has seen a significant decline of around -5% - -6% over the last 24 hours. The short-term trend is clearly bearish due to the recent sharp decline. UNI is trading below its short-term moving averages.

Support and Resistance:

Support: The immediate support is likely to be near current price levels. A critical support level to watch is around $5.73, which represents the previous low in 2024.

Resistance: The immediate resistance is around $5.97, with stronger resistance levels at $6.30 - $6.50. Near-term outlook and forecasts:

The near-term outlook remains bearish due to strong downward momentum. However, the oversold RSI suggests that a short-term bounce or consolidation phase may occur. The price is currently testing a critical support level around 5.73. A break below this level could lead to further significant declines.

A decisive break of the 5.97 resistance levels and then $6 is needed to restore the bullish outlook of $UNI .30 - 6.50 with significant volume.