Uniswap price hovers at $9.67 as sellers extend control
Uniswap (UNI) is currently trading near $9.67 after breaking decisively below the $10.00–$10.20 support band, extending its correction phase. The 30-minute chart shows continued rejections at the falling trendline, with price holding under all key EMAs and the 200 EMA capping upside near $10.50. Momentum is firmly tilted bearish as the RSI sits at 38.8, showing weak recovery strength and little sign of buyer conviction. Unless bulls reclaim the $10.20 pivot on higher volumes, UNI risks further decline toward $9.20–$9.00, which previously acted as a key accumulation base.
Key highlights
- UNI trades at $9.67, below all EMAs with RSI at 38.8
- Net outflows of –$1.21M on 26 August reinforce bearish flows
- USV’s $7.43M sale and Fibonacci breakdown weigh heavily on sentiment
Technical and on-chain picture
UNI’s technical setup reflects a sharp shift toward distribution. The breakdown from the $10.90 Fibonacci support triggered significant liquidations in leveraged long positions, accelerating downside pressure. On-chain data adds weight to the bearish view, with net outflows of –$1.21M on 26 August, extending the multi-week streak of exchange redprints.

Uniswap price dynamics (Source: TradingView)
UNI’s market cap has contracted to roughly $7.2B, a steep pullback from its mid-August peak above $9.5B. This trend highlights reduced inflows from both retail and institutional wallets, while negative funding rates across derivatives signal traders hedging further declines. The technical and on-chain mix points to fragility in the short term, with no convincing recovery signal visible yet.
Fundamental positioning and outlook
Investor sentiment was further dampened by the $7.43M VC sell-off by USV, its first exit after an eight-month pause. This sale has been widely interpreted as a cut in institutional conviction, amplifying sell pressure already present in the market. Additionally, broader market weakness has weighed on UNI’s positioning, with Bitcoin dominance climbing above 57.5% and sparking capital rotation out of altcoins. Despite these headwinds, fundamentals continue to evolve.
Uniswap Labs has gained visibility with its crypto policy education nonprofit initiative, helping improve the project’s standing in regulatory discussions. At the governance level, the DUNI proposal remains a medium-term driver, as it could bring legal clarity and enable long-awaited fee mechanisms. These structural initiatives may form the backbone for renewed institutional confidence once market conditions turn.
Short-term outlook
Looking forward, UNI’s immediate path depends on whether the $10.00 support zone holds. Sustained weakness below this level would likely extend losses toward $9.40–$9.00, where prior accumulation occurred. Conversely, a reclaim of $10.20 followed by a close above $10.50 could set the stage for relief toward $11.00 and potentially $11.50–$12.00, though that would require strong inflows and a rebound in whale participation. Monitoring whale wallet clusters near $10.20–$10.50 and exchange flows will be key to gauging whether accumulation returns.
In earlier analysis, UNI was noted to be struggling at the $10.80–$11.00 zone, which acted as a critical resistance cluster. The failure to reclaim that range has since reinforced bearish bias, pushing price into the sub-$10.20 region and confirming downside continuation.
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