<em>The UNI technical analysis displays the $5.7 breakdown rally gaining momentum as the global markets crumble under increasing tensions. </em>

The UNI price action shows an increase in selling pressure leading to a bearish breakdown of the consolidation range. With a 9% fall, the bearish breakdown of $5.7 releases the trapped bearish momentum. So, will the breakdown rally cross below the next support level of $4.5?
<h3><strong>Key Points:</strong></h3>
<ul>
 	<li>The Uniswap prices drop under the $5.7 mark.</li>
 	<li>The downtrend warns of the fallout of $4.5.</li>
 	<li>The intraday trading volume in Uniswap is $122 Million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/d/DoqxS8XX.png" alt="UNI/USD Price Chart" width="2047" height="1006" />

<strong>Source-</strong><a href="https://www.tradingview.com/x/DoqxS8XX/">Tradingview</a>
<h2><strong>UNI Technical Analysis</strong></h2>
The UNI price failed to sustain the $5.7 support level due to the increased selling pressure over the weekend. The 9.18% drop in the Uniswap market value results in a bearish engulfing candle in the technical chart. Additionally, the bearish breakdown of the demand level gives a breakout of the consolidation range in the daily chart. The breakout rally approaches the $4.7 support level reflecting an increase in selling pressure.

The reversal from the 50-day EMA leading to a bearish breakout increases the bearish gap between the 50 and 100-day EMA. Hence, the traders can expect a fall to the $4.7 support level. Furthermore, the drop below the $4.7 mark can prolong the <a href="https://www.cryptoknowmics.com/news/uni-technical-analysis-falling-prices-may-break-5-7-for-20-drop/">UNI</a> correction phase to the $3.5 mark. However, a bullish reversal at the $4.5 horizontal level will bounce the Uniswap prices to $5.7.
<h2><strong>Technical indicator</strong></h2>
The RSI slope shows a falling trend below the halfway line approaching the oversold boundary. Moreover, the MACD and signal lines gain a bearish spread after the recent crossover, fueling the negative trend in histograms.

Therefore, the technical indicators reflect a rising trend in selling pressure. As a result, the UNI technical analysis takes a bearish standpoint and offers a selling opportunity with the pattern breakout.

<strong>Resistance levels-</strong> $5.7 and $6.7

<strong>Support levels-</strong> $4.7 and $3.4

UNI Technical Analysis: Falling Prices Continue To Gain Momentum 

The UNI technical analysis displays the $5.7 breakdown rally gaining momentum as the global markets crumble under increasing tensions. 

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: Falling Prices Continue To Gain Momentum

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