UNI Price Plunges Despite Record Burns and Bullish Momentum

Uniswap (UNI) has seen a decline in price despite recent bullish momentum and Hayden Adams' positive tweet on record UNI burns. The price is currently trading at $4.297, down 5.79% from the previous close and nearing its intraday low.

The notable selling pressure since market opening contrasts with strong recent bullish momentum, as the price remains above key moving averages.

Hayden Adams' tweet highlighted improving protocol activity, but current price action reflects profit-taking and elevated technical resistance outweighing bullish sentiment.

Technical indicators confirm upward strength overall, but multiple oscillators are overbought, implying a stretched market with increasing short-term downside risk.