Uniswap Tests $10.86 Support — Bullish Momentum May Be Building
I see Uniswap (UNI) trading at $10.86 after a 1.29% decline over 24 hours, currently retesting a key support level.
Technical indicators suggest bullish momentum may be building despite the pullback, indicating potential for a rebound if the support holds.
I will watch for a firm bounce or consider buying on weakness with a clear stop below the $10.86 support to manage risk.
Analysis
UNI's modest pullback looks like a test of support rather than a structural breakdown; momentum signals point to accumulation and a potential short-term reversal if buyers defend $10.86.
Recommendation
I recommend a buy-on-weakness approach or holding for confirmation—scale in near support with a stop below $10.86 and reassess if the level fails.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.