Uniswap Price Falters Near $6.00 Amid Waning Retail Demand

Uniswap's price is facing fresh selling pressure near $6.00 after a steady recovery of over 80% in more than two weeks.

Retail speculation is beginning to fade, with UNI futures Open Interest down 12% over the last 24 hours and a long positional wipeout of more than $2 million.

The technical outlook for Uniswap suggests a downside bias as momentum stretches thin.

Uniswap has been driven by strong on-chain performance, processing around $2 billion in Robinhood Stock Token volume in the last 2 weeks and reaching a record high of 40 million swaps last week.