Which way for Uniswap [UNI]- A recovery, consolidation or retracement?
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion After the price rejection at $7.624 on 18 February, Uniswap [UNI] depreciated by 20%.
At press time, the native DEX token traded at 6.239 and flashed green as bulls attempted to front a recovery. However, key fundamentals and metrics offered conflicting results, calling for investors’ caution.
Read Uniswap [UNI] Price Prediction 2023-24Source: UNI/USDT on TradingView At the height of the January rally, UNI entered a price consolidation and formed a rising channel (white).
The price action breached below the channel in early February but was checked by the 100-day EMA (exponential moving average).
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![Uniswap [UNI] attempts recovery; short-sellers opportunities limited?](https://fvbb.com/storage/thumbs_400/img/2023/3/13/58964_ga0.jpg)
![Uniswap [UNI] surpasses SUSHI and CRV on this front](https://fvbb.com/storage/thumbs_400/img/2023/3/10/58675_e4x2.jpg)
