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Which way for Uniswap [UNI]- A recovery, consolidation or retracement?

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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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