According to the daily chart, UNI’s price reached a local high of $18.68 on Dec. 9, 2024. Since then, the token has been trading within a descending triangle.
A descending triangle is a pattern that occurs during a market downtrend. It is formed when a series of lower highs converges with a flat or declining support level.
As the price continues to make lower highs, the pattern suggests that selling pressure is increasing and typically indicates that the downtrend might continue.
For UNI, the price is at the key support level, which was vital to the rally, at $18.68 in December. However, the Moving Average Convergence Divergence (MACD) has dropped to the negative region.
This drop indicates bearish momentum around UNI. The Chaikin Money Flow (CMF) has also followed the MACD trend, reinforcing strong selling pressure.
UNI/USD Daily Chart | Credit: TradingView
If sustained, then UNI’s price might fail to bounce off the lows anytime soon.
From an on-chain perspective, IntoTheBlock data also shows that UNI’s price could face resistance between $13.51 and $13.81.
According to the In/Out of Money Around Price (IOMAP) metric, approximately 2,720 addresses are holding over 400 million UNI tokens at unrealized losses in this price range.
This significant volume could act as a potential resistance zone, as holders may look to offload their token to break even if the price rebounds. Thus, such selling pressure could hinder UNI’s ability to sustain a recovery as it further strengthens the bearish momentum.
UNI In/Out of Money Around Price | Credit: IntoTheBlock
UNI Price Prediction: No More Double-Digit Value?
Moreover, the 4-hour chart aligns with the signals shown on the daily chart. According to the image below, the last time UNI’s price fell from the $12.60 support, it cratered to the $11 region.
However, around that period, the broader market condition was better, and Bitcoin’s (BTC) price was not below $92,000. Therefore, if momentum remains weak, UNI might drop below this region.
UNI/USD 4-Hour Chart | Credit: TradingView
In that scenario, the token’s value might sink to $8.50. However, if UNI bounces off the $11 support, this trend might change. If that is the case, the altcoin might rally toward $17.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
