Uniswap (UNI) Slides to $6.67 as Open Interest Declines and Technical Indicators Warn of Further Weakness

Uniswap (UNI) has experienced a significant multi-day decline, falling from above $8.50 to near $6.26, establishing a bearish structure characterized by lower highs. This price action is corroborated by derivatives data showing aggregated open interest contracting from 226.6 million to 217.3 million, indicating traders are de-risking or closing positions rather than accumulating. Currently priced at $6.67 (down 8.39% in 24 hours), UNI's market cap is $4.19 billion. Technical indicators reinforce the bearish outlook; the price is trading below the Bollinger Band basis ($6.731), and the MACD histogram has turned negative, suggesting momentum favors sellers. Without a reversal in open interest or a decisive break above key resistance levels, the risk of further downside toward lower structural lows remains high.

(Source：Brave New Coin)