Uniswap retains a long-term bullish price structure, but selling pressure could push it below $6 in the coming days. UNI’s open interest fell 10.80% over 24 hours as its price dropped 7% and daily trading volume rose 36%. A wallet tracked by Lookonchain sold one million UNI tokens worth $7.32 million over the past two days. The sale came amid broader market fear, with the altcoin market capitalization shrinking by $173.74 billion, or 14.78%, over the past month. Analysts nevertheless see a possible decline toward $5.80 until resistance between $7.13 and $7.80 is decisively overcome.
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