Uniswap

Sep 26

• The recent downward movement suggests a potential loss of bullish momentum, and if the price breaks below the lower Bollinger Band, it could signify further downside pressure.
  
• There have been notable spikes in volume during both upward and downward moves. The volume around the most recent sell-off suggests increased selling interest, potentially signaling a bearish sentiment.
  
• A rejection from the upper band can be seen, and the current candlestick shows some bearish pressure with a downward wick forming.
  
• Short-term Bias: The current direction leans towards a bearish sentiment as the price approaches the lower Bollinger Band. If the price continues downward and closes below the lower band with increased volume, it could indicate a stronger bearish move.
  
• Support: The lower band near $6.55-$6.60, with further downside possible if this level is broken.