{"id":183566,"date":"2023-10-30T13:48:25","date_gmt":"2023-10-30T08:18:25","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=183566"},"modified":"2023-10-30T13:48:25","modified_gmt":"2023-10-30T08:18:25","slug":"will-uniswap-sellers-get-more-leverage-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-uniswap-sellers-get-more-leverage-crypto-news\/","title":{"rendered":"Will Uniswap sellers get more leverage? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i data-stringify-type=\"italic\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>UNI\u2019s price action hit a roadblock at the $4.4 resistance, resulting in another price drop.<\/em><\/li>\n<li><em>Sellers looked to gain the advantage with an increase in short positions.<\/em><\/li>\n<\/ul>\n<p>Despite the bullish market conditions, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/UNI\" data-wpel-link=\"internal\">Uniswap [UNI]<\/a> failed to break above the mix of a resistance level and bearish order block at the $4.4 price zone.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/uniswap-price-prediction\" data-wpel-link=\"internal\">Uniswap\u2019s [UNI] Price Prediction<\/a>\u00a02023-24<\/p>\n<hr \/>\n<p>AMBCrypto\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/uniswap-as-sell-pressure-looms-will-bulls-prevail\/\" data-wpel-link=\"internal\">previous outlook<\/a> on UNI highlighted the selling pressure that the altcoin was under, with bulls needing to scale multiple price hurdles. While bulls were able to scale the $4.2 price hurdle, the bearish order block at $4.4 was a step too far.<\/p>\n<p>This led to an 8% drop over five days, with UNI trading at $4 as of the time of writing.<\/p>\n<h4><strong>Low demand limited bullish rally<\/strong><\/h4>\n<div id=\"attachment_354714\" style=\"width: 1916px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/UNIUSDT_2023-10-29_06-10-03.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-354714\" class=\"wp-image-354714 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/UNIUSDT_2023-10-29_06-10-03.png\" alt=\"Uniswap UNI price chart\" width=\"1906\" height=\"1084\" \/><\/a><\/p>\n<p id=\"caption-attachment-354714\" class=\"wp-caption-text\">Source: UNI\/USDT on Trading View<\/p>\n<\/div>\n<p>The On Balance Volume (OBV) declined by over $5 million within the period under consideration. This loss of trading volume stalled the bullish rally, which allowed sellers back into the market at the resistance level.<\/p>\n<p>With price trading at a mid-point between the $4.4 resistance and $3.8 support, a retest of the $3.8 support looked more likely in the short term.<\/p>\n<p>This was further supported by the Relative Strength Index (RSI) dropping below the neutral 50 \u2013 a sign of weakening buying pressure and an increase in selling pressure.<\/p>\n<p>Thus, both UNI\u2019s price action and on-chart indicators revealed the short-term bearish bias in the market.<\/p>\n<p>Another factor that could be affecting UNI is the recent imposition of an interface fee of 0.15% on Uniswap with traders favoring a sell-off rather than an accumulation, based on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/whats-causing-uniswaps-price-to-slump\/\" data-wpel-link=\"internal\">AMBCrypto<\/a>\u2018s findings.<\/p>\n<h4><strong>Traders chose to go short based on UNI\u2019s spot market activity<\/strong><\/h4>\n<div id=\"attachment_354715\" style=\"width: 1030px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/UNI_Long_Short.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-354715\" class=\"wp-image-354715 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1020\" height=\"618\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/UNI_Long_Short.jpg 1020w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/UNI_Long_Short-300x182.jpg 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/UNI_Long_Short-768x465.jpg 768w\" data-lazy-sizes=\"(max-width: 1020px) 100vw, 1020px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/UNI_Long_Short.jpg\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-354715\" class=\"wp-image-354715 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/UNI_Long_Short.jpg\" alt=\"\" width=\"1020\" height=\"618\" \/><\/a><\/p>\n<p id=\"caption-attachment-354715\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\">How much are\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-uni-to-usd\" data-wpel-link=\"internal\">1,10,100 UNIs worth today<\/a>?<\/p>\n<hr \/>\n<p>Market speculators in the futures market were bearish in the short term. According to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/LongShortRatio\" data-wpel-link=\"external\">Coinglass<\/a>, the exchange long\/short ratio showed that shorts had a 51.38% share of the open contracts on UNI.<\/p>\n<p>This hinted at a further price dip in the short term, with the $3.8 support becoming the best possible price level for another bullish rebound.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. UNI\u2019s price action hit a roadblock at the $4.4 resistance, resulting in another price drop. Sellers looked to gain the advantage with an increase in short positions. Despite the bullish market conditions, Uniswap [UNI] [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":183567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-183566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=183566"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183566\/revisions"}],"predecessor-version":[{"id":183572,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183566\/revisions\/183572"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/183567"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=183566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=183566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=183566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}