Uniswap (UNI) Triggers TD Sequential Buy Signal, But Will Support Levels Hold?

Uniswap [UNI] traders can breathe a sigh of relief following a TD Sequential buy signal on its 4-hour chart. At press time, the token was trading at $13.17, reflecting an 11.89% decrease over the last 24 hours.

As UNI attempts to stabilize and reverse its recent downtrend, the $13.20 support level becomes crucial.

Moreover, key Fibonacci retracement levels highlighted resistance at $15.90 and $17.06, which UNI must clear to regain upward momentum.

However, the parabolic SAR, priced at $14.90 at press time, indicated a continuation of the bearish trend if the $13.20 support fails to hold.

In such a scenario, further declines toward $12.88 could be observed.

Having faced strong selling pressure, UNI's sharp decline from $15.32 to its current price range was evident.

Fibonacci retracement levels highlighted resistance at $15.90 and $17.06, which UNI must clear to regain upward momentum.

However, the parabolic SAR, at $14.90 at press time, indicated a continuation of the bearish trend unless the $13.20 support holds firm.

Failure to maintain this zone could lead to further declines toward $12.88, raising concerns among investors.

Therefore, all eyes are on whether buyers can reclaim dominance at this crucial level.

Slight improvements in on-chain metrics offered cautious optimism. Active addresses rose by 1.12% over the last 24 hours, indicating a modest increase in user engagement.

Furthermore, transaction counts increased by 1.01%, reflecting incremental growth in network usage.

However, these increases were relatively minor and might not indicate a strong reversal in sentiment.

As a result, while fundamentals showed some resilience, they were not yet strong enough to spark a definitive recovery.

UNI’s exchange reserves decreased by 0.75% over the last 24 hours, sitting at 68.63 million tokens at press time.

This suggested lower selling pressure, as fewer tokens were available for trading on exchanges.

However, it also reflected cautious market sentiment, with holders choosing to wait rather than actively buying or selling.

Therefore, while this trend was slightly positive, it remained uncertain whether it could drive sustained upward momentum.

Finally, liquidation data provided further market sentiment. The long liquidations totaled $397.89K, significantly greater than $96.73K in shorts.

This imbalance reflected cautious optimism among buyers, who appeared to anticipate a rebound.

However, with UNI still facing strong resistance levels, the market remained divided on whether a recovery was imminent.

Hence, traders were advised to proceed with caution while monitoring key price levels.