Crypto
Uniswap Price Dives After Sharp Decline, Support Cluster in Focus
Uniswap has seen a sharp decline in price after its strong summer run. The decentralized exchange token is now testing a key support cluster at $5.6359, $4.9924, and $4.3573 on the 4-hour chart.
The token's market cap stands at $3.71B on a circulating supply of 622.01M against a total supply of 889.26M and max supply of 1.00B.
Despite the decline, positioning still leans long, with Binance's long/short ratio by accounts reading 1.2978, and OKX showing a stronger 1.83.
A break below $5.6359 opens the door to $4.9924 and $4.3573 next, according to the CoinGabbar analyst desk.