Uniswap (UNI) Slides 6% as Technical Indicators Flash Bearish Signals

The RSI (14) reveals weakening strength at 48.81, drifting below its signal line of 57.53. This divergence underlines a fading bullish impulse, suggesting potential continuation of the current downtrend. Moreover, the Relative Strength Index failed to reclaim the 50 mark, reinforcing bearish sentiment despite short-lived rallies.

Meanwhile, the Chaikin Money Flow (CMF) hovers at 0.04, barely positive. It reflects subdued capital inflows, hinting that larger investors remain hesitant. Though not entirely bearish, the marginally bullish CMF aligns with the broader narrative of cooling demand.

No moving average crossover has recently emerged to suggest directional shifts. The lack of a bullish crossover between short- and long-term averages implies an ongoing consolidation phase. In the broader context, UNIs circulating supply stands at 628.73 million tokens out of a capped 1 billion.

Despite intraday volatility, UNI holds within a broader descending pattern. Market participants should monitor $6.69 and $7.13 closely, as either break could dictate the next directional leg.