Uniswap (UNI) Consolidates After Sharp Pullback as Open Interest Drops Over 50%

Uniswap (UNI) is currently trading around $6.07, showing muted price action following a significant drop from the $8 region. This consolidation phase is characterized by a steep contraction in Open Interest (OI), which fell from over 300 million to approximately 140 million, signaling widespread liquidation and reduced speculative participation. Market data shows UNI trading at $6.13, down 2.52% in 24 hours, with a market cap of $3.68 billion. Technically, Bollinger Bands are contracting, indicating decreasing volatility, and the asset remains below the middle band at $7.26, reinforcing a bearish bias. The RSI is near oversold territory at 34.16. For a rebound, UNI needs to reclaim the $6.50 resistance; otherwise, it risks falling toward the $5.50–$5.80 support zone.

(Source：Brave New Coin)