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Uniswap (UNI) Rebounds Above $6 After Brief Uptrend Breakdown
HomeNews* Uniswap‘s UNI token dropped below its key uptrend line following a failed hold above the $6.00 support level.
Despite the breakdown, UNI rapidly reversed direction and traded back up to $6.18, indicating that buyers stepped in aggressively at lower prices. The token encountered resistance near the $6.19 mark, though market momentum appeared to remain positive following the rebound.
The intraday price action covered a range of 0.226, or roughly 3.8% in percentage terms, highlighting volatility in UNI. Analysts observed that the uptrend could remain intact if UNI continues to find support around $6.05, as substantial trading volumes at these levels suggest interest from buyers.
The price movement reflects ongoing uncertainty but also demonstrates swift market reactions, with dip-buying seen immediately after sharp declines. The technical setup will remain in focus as market participants watch to see if Uniswap can sustain its current trend and retest higher resistance levels.
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