Uniswap token has been continuing its downtrend below the descending trendline since early February.
Despite the bearish trend , the UNI token gained 7.20% of its gain this week.

At the end of February, the nature of the Uniswap token was highly volatile, but the liquidations have been gradually decreasing over the past several days. Amin of low liquidations, the token has gained 22% trading volume in the last 24 hours. Furthermore, the volume to market capitalization ratio is 0.3341.

Today, UNI investors are getting prepared to reach into the red zone of the Ichimoku indicator in terms of the daily price chart. But at the time, bulls are getting rejected from the leading span A (at $8.9-mark). Above the leading span A, the next bullish hurdle will be leading span B.

Stoch RSI has taken support near 20-level and bounce-back. It is seeing bullish signals for the Uniswap token relative to the daily price chart. Furthermore, the Average Directional Index is at 21-point, which suggests a sideways momentum for the UNI token.

The range of the descending triangle pattern is getting narrower day by day, so possibly the Uniswap token is about to give a directional trend signal. Buyers have a great chance to push the price of the token higher.

Support level – $8.0 and $6.5
Resistance level – $10 and $20