<em><strong>The UNI prices break below the support trendline, dropping all the crucial daily EMAs and endangering the bullish dominance at $7.</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The Uniswap market price dropped by 27% from the 200-day EMA.</li>
 	<li>The price action displays a power struggle above $6.75.</li>
 	<li>With a market cap of $5.08 billion, the intraday trading volume of Uniswap has increased by 5.21% to reach $163 million.</li>
</ul>
<h3>Past Performance of UNI</h3>
The <a href="https://www.cryptoknowmics.com/news/uniswap-includes-sudoswap-to-have-access-to-deeper-nft-liquidity/" target="_blank" rel="noopener">Uniswap</a> (UNI) price action shows a bullish failure to rise above the resistance confidence of the 200-day EMA and the $9.25 resistance level. The increased supply information at the confluence resulted in a downfall below the support trendline to test the crucial support at $6.75. Additionally, the bear cycle accounts for a 27% fall in market value but shows lower price rejection from the support level of $6.75.

<img class="aligncenter size-full wp-image-245425" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/08/ir3pwGs2.png" alt="" width="2047" height="1006" />

Source - <a href="https://www.tradingview.com/x/ir3pwGs2/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>UNI Technical Analysis</h2>
The UNI price action shows a power struggle at the $6.75 support level, with the 100-day SMA acting as the overhead resistance. Hence, a breakout of either side can provide an entry signal for sideline traders. Despite the downfall, the 50 and 100-day EMA maintain a bullish alignment for the time being. However, the EMAs may give a bearish crossover if the price drops below the $6.75 mark.

As the RSI slope takes a lateral shift in the nearly oversold zone, reflecting an increase in underlying bearishness. Moreover, the MACD indicator shows a bear trend but a weakness in negative histograms. Hence, the technical indicators maintain an overall bearish bias.

In summary, the UNI technical analysis projects a high likelihood of a downtrend below $6.75 as the technical indicators support the bearish perspective.
<h2>Upcoming Trend</h2>
UNI prices can consolidate above $6.75 if the buyers maintain dominance at the crucial support level. Moreover, in case of a bullies trend continuation, a jump to the overhead resistance at $8 is possible.

However, a downtrend continuation below the $6.75 mark can test the psychological mark of $5.

Resistance Levels: $8 and $9.25

Support Levels: $6.75 and $5

UNI Technical Analysis: Buyers Cushion Fallout Rally Near $7

According to the technical analysis, UNI prices break below the support trendline, endangering the bullish dominance at $7.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

UNI Technical Analysis: Buyers Cushion Fallout Rally Near $7

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