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Uniswap [UNI] Price Analysis: Market Structure Weakening, Bulls Need Support

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• UNI dropped 20% after price rejection at $7.624 on 18 February.
• Market structure weakened and bulls attempted to front a recovery.
• Quarterly holders outperformed monthly peers, but the 90-day Mean Coin Age rose.

Uniswap [UNI] Price Prediction: Weak Market Structure

Uniswap’s [UNI] market structure weakened further after the price rejection at $7.624 on 18 February caused the native DEX token to depreciate by 20%. At press time, UNI traded at 6.239 as bulls attempted to front a recovery, however conflicting results from key fundamentals and metrics called for investors‘ caution.

Price Rejection Causes Correction

At the height of the January rally, UNI entered a price consolidation and formed a rising channel (white). The price action breached below this channel in early February but was checked by the 100-day EMA (exponential moving average). However, retracement followed after a rejection at $7.624 overhead resistance, leaving bulls to target levels of 23.6% ($6.390), 38.6% ($6.625), 50% ($6.816), or 61.8%($7.007) Fib levels on their attempts for recovery daily close above the 23.6% Fib level is necessary for this to occur successfully; otherwise bears could re-enter with shorting opportunities set around $6 with stop loss placed above $6 390 if Bitcoin [BTC] retests its all-time high of $25K again then UNI may swing back up towards its overhead resistance level of $7 624 however RSI divergence and ADX retreat suggested that market structure has weakened and could enter consolidation or further retracement soon..

Wide Network Accumulation Of Tokens

The wide network accumulation of tokens was reflected by an increase in 90-day Mean Coin Age; this could potentially lead to bullish rallies in future although 30-day MVRV showed that monthly holders incur losses of 5%, quarterly holders enjoyed modest profits of 2%.

Profit Calculator

Investors can use Uniswap’s profit calculator to assess their portfolio performance during these corrections and understand where they stand against other users in terms of profits/losses made since holding UNI tokens over different periods of time..

Conclusion

Overall, caution must be taken when investing into Uniswap [UNI], especially considering its current weak market structure which could see further correction or consolidation depending on how Bulls are able to regain control over prices in short term trading sessions ahead