UNISWAP prices forms the death of the cross with a decline in exchange balances

UNISWAP price has declined over the past few months, and the recently formed Death Cross style indicates that more losses are likely.

UNISWAP (UniThe distinctive symbol was circulated at $ 10 on Tuesday, a decrease of more than 50 % of its peak in November. This decline coincided with bitcoin (BTCThe assembly and the ALTCOIN bear market is wider.

UNISWAP loses its market share in the decentralized exchange industry, as it was once the dominant player. According to Defi Llama, UISWAP dealt with $ 100 billion in trading volume, which now gives up Pancakeswap worth $ 109 billion. In addition, UNISWAP lost its market share in front of Raydium, the largest Dex on Solana (Teller).

Meanwhile, the recently launched Unichain Mainnet has started a slow start. Data from Davi LamaUnichain 12 attracted DEFI network and a closed total value of $ 8.62 million. The largest DAPPS in the ecosystem is Stargate, UniWAP, Venus and DySWAP.

UNISWAP aims to mode unichain as a basic network for user transactions due to low fees and multi -rules compatibility.

Despite these challenges, UNISWAP is still the most profitable player in the Dex industry. According to Tokeenseminal, UNISWAP has made $ 186 million of fees this year, which is much higher than $ 71 million than Pancakeswap.

Another positive indicator is the decrease in symbolic assets UNI on central exchanges. The number of UNI symbols held on the stock exchanges decreased from 67 million earlier this month to 61 million. The decrease in the exchange balances indicates a decrease in sale pressure and an increase in investor confidence.

The price of UISWAP has formed a cross -death style

The Daily Chart explains that UNI reached its climax at $ 19.44 in late last year before its collapse to $ 10. The distinctive symbol is now a cross of death, as the averages of the weighted movement turned for 50 days and 200 days, which is a major continuity signal in technical analysis.

In addition, the UISWAP formed the downtom science pattern, which consists of a sharp decrease followed by monotheism. The symbol also decreased to less than 61.8 % of the Fibonacci retreat level, a key area in which heights often occur.

Looking at these descending signals, the next main support level for watching is $ 7, which is the lowest level this month. However, hippos will be nullified if the UNI rises above the moving average for 200 days at 11.20 dollars.