UNI faces bearish crossover after failing to test $5.68 resistanUniswap price analysis remains bearish today, following from yesterday’s massive 16 percent decline that took price down to $5.25 support. UNI declined more than 2 percent over the past 24 hours to as low as $5.36 with trading volume rising above 55 percent. Uniswap price took a sudden correction on July 10, 2022, after facing rejection at the $6.38 resistance point and is now set for a bearish crossover. Price could find an uptrend if buyers come into the market at discounted price over the current trend, but would need to look out for the high volatility currently in place. UNI market cap fell around 3 percent today, moving down to $4,195,369,658.
The larger cryptocurrency market continued to decline sharply from yesterday, as Bitcoin receded down below the crucial $20,000 mark with a 4 percent decline. Ethereum lost 7 percent in price to stay just above $1,000, while major Altcoins showed similar downtrends. Cardano dropped 4 percent to $0.43, whereas Ripple dropped 3 percent to $0.31. Dogecoin dropped down to $0.06 with an almost 5 percent dip, while Solana showed a similar decline to move down to $33.88. Meanwhile, Polkadot moved down to $6.78, dropping 2 percent over 24 hours.
