Uniswap Price Plummets 20% Amid Bearish Head-and-Shoulders Breakdown

Uniswap's (UNI) price has taken a hit, dropping nearly 20% over the past week to around $3.23 on August 14. This decline is attributed to a bearish head-and-shoulders pattern breakdown and weak capital flows.

The key support level at the 38.2% Fibonacci retracement near $3.19 has been tested, with liquidation clusters between $3.45 and $3.65 potentially limiting short-term recovery.

A close below $3.19 could open the way to $3.00 or lower, while oversold conditions may lead to a temporary rebound.