![Uniswap [UNI]: Bears could break out below $5.267, but…](https://i.headtopics.com/images/2023/1/6/cryptoamb/uniswap-uni-bears-could-break-out-below-5-267-but-uniswap-uni-bears-could-break-out-below-5-267-but-1611460848433635331.webp)
Uniswap [UNI]: Bears could break out below $5.267, but...
has had two successful recoveries since the November 2022 market crash, each reaching $6.5. However, the most recent recovery phase only reached $5.5 before turning into a correction.At press time, UNI was trading at $5.323 and threatened to fall below support at $5.267. Although such a downward move could provide short traders with additional profits, technical indicators and whale action urged caution.In the second phase of UNI’s rally, the token reached $6.
Therefore, UNI could fall lower, break support at $5.267, and settle at $5.130. The level could serve as a target for short-selling. This dominant category was responsible for the recent selling pressure, while the next influential category , with 19.5% control, was accumulating.
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