Uniswap Price Stalls at Upper Resistance: Pullback Before Next Leg

Uniswap (UNI) has been on an absolute tear, but now it's hitting a wall. The token is trading above its key moving averages and has been one of the most eye-catching moves in the mid-cap DeFi space.

The price is sitting right at the upper Bollinger Band with RSI deeply overbought and MACD momentum dead flat. This setup demands respect, not excitement.

RSI is at 75.09, which is textbook overbought. The MACD histogram has converged to zero, indicating that the rally's engine has shut off. Buyers used to be outpacing sellers, but now they're evenly matched at best.

The global long/short ratio is running at 1.86 with 65.1% of retail traders positioned long. However, sellers are winning the flow battle decisively right now.