UNI Reverses After Hitting $6.44, Bearish Momentum Builds Below Key Support
Uniswap’s UNI token faced a sharp reversal on Thursday, as intraday gains faded and selling pressure intensified, pushing prices below the critical $6.22 support level.
The session began on a bullish note, with UNI rallying to an early high of $6.44, marking a 3.1% increase. However, momentum quickly reversed as aggressive selling emerged mid-session, triggering a cascade of lower highs and increasing volume on the downside.
The decline reflects a broader mood shift across crypto markets, with risk appetite diminishing amid renewed macroeconomic uncertainty, including ambiguous monetary policy cues and persistent global trade tensions.
Despite signs of earlier strength, today’s breakdown has shifted short-term sentiment firmly bearish. Traders are now watching $6.20 as the last technical support before a deeper correction could unfold.
Technical Breakdown:
- Intraday Range: $6.22 – $6.44
- Rally Peak: 3.1% gain to $6.44, followed by swift reversal
- Key Sell-Off Trigger: 13:45 dump to $6.31 on volume spike (244,581 units)
- Failed Recovery Attempts: Lower highs formed at $6.31, $6.30, and $6.29
- Final Hour Movement: Price dropped to $6.20 with rising bearish volume
- Support/Resistance: $6.22–$6.25 now vulnerable; $6.35 confirmed as new resistance
- Outlook: Downside bias strengthens unless UNI can reclaim $6.30+ with volume
With momentum turning negative and buyers losing control, UNI enters a critical phase — where holding above $6.20 may determine whether the token finds a floor or slips into a broader correction.
