Crypto
Uniswap Price Treads Water at $5.80 Amid Overbought Conditions
Uniswap's price is currently hovering around $5.80, with daily momentum still strong but intraday signals showing signs of cooling down.
On the daily chart, UNI is well above its EMA20, EMA50, and EMA200 levels, indicating a bullish trend. However, the daily RSI14 has reached 76.97, signaling that the market has become overbought.
The intraday pullback on the 1-hour and 15-minute charts shows a decline in momentum, with the MACD histogram flipping negative on both timeframes.
Despite this, the fee data for Uniswap V3 is encouraging, with fees surging 130.96% over the past 30 days, according to DefiLlama. This supports the idea that the protocol still commands real trading volume.