Uniswap’s UNI Finds Support Near $6 as Macro Risks Weigh on Crypto Market
Uniswap’s UNI token rebounded from earlier declines on Monday, with buyers stepping in near the $6 support level despite growing macroeconomic pressures and escalating geopolitical uncertainties.
The broader crypto market remains sensitive to global economic tensions, as investor confidence wavers amid rising trade conflicts and uncertainty over monetary policy shifts.
Throughout the day, UNI’s price fluctuated sharply between $6.045 and $6.385 before settling above $6.11, reflecting cautious buying interest, according to CoinDesk Research’s technical analysis.
Although UNI managed a modest recovery after early losses, analysts caution that factors like tariff hikes and postponed rate cuts could limit further gains in the near term—even as critical support zones remain intact.
Technical Insights:
- UNI traded within a volatile 5.33% range over 24 hours, hitting a peak at $6.385 before dropping to $6.045.
- A resistance band formed between $6.30 and $6.38, where heavy selling volume emerged, especially around 11 PM UTC.
- Buyers defended support in the $6.05 to $6.08 range during early trading on June 2.
- Volume trends and inability to retake earlier highs point toward persistent bearish momentum in the short term.
- Toward the end of the analysis period, UNI climbed from $6.146 to $6.176, gaining roughly 0.48%.
- The $6.148–$6.152 zone held firm during a brief sell-off at 07:35 UTC, confirming it as a crucial near-term floor.
- Rising volume during the 08:00 UTC candle accompanied a price jump to $6.176, signaling renewed buying strength.
Currently, UNI is consolidating around the $6.12 to $6.18 resistance zone. A decisive break above this level is needed to validate any sustained bullish momentum.
