Recently, Uniswap (UNI) has faced a price drop, breaking its crucial support level at $12.50. This has led to expectations that it might further decline by 20% to reach the psychological level of $9.50.
In the past 24 hours, inflows of $10.20 million into exchanges were recorded, indicating potential selling pressure. Despite this trend, UNI is still above the 200 EMA, suggesting a remaining slight upward momentum as the platform gears up for its v4 upgrade.