Uniswap price forecast: UNI risks 15% drop as long liquidations build

Key takeaways

• Uniswap retreated after climbing to an intraweek high of approximately $10.95.
• UNI’s weekly RSI has entered overbought territory at around 73.
• A correction could target $7.83, while losing that support may expose $6.91.

Uniswap (UNI) could decline toward $7.80 over the coming weeks after its latest rally lost momentum near a major resistance area. 

An overbought weekly Relative Strength Index (RSI), a rejection below the $11.51 Fibonacci level and a concentration of leveraged long positions below the market all point to an elevated risk of a correction.

UNI traded near $9.11 on September 25 after reaching an intraweek high of roughly $10.95. Although its longer-term technical structure has improved, the token may need to cool further before attempting another sustained advance.

UNI Rally Loses Momentum Below $11.50

Uniswap’s recent rebound brought the price close to the 0.786 Fibonacci retracement level at approximately $11.51. That area represented an important upside target following UNI’s breakout ...