The Uniswap governance token, UNI, has broken below a major weekly support level between $4.70 and $5.60, signaling a bearish shift in market structure. Crypto analyst Crypto Pulse noted this completed a head-and-shoulders pattern, pointing to weakening demand. Momentum indicators like the RSI and MACD continue to reflect downside pressure. This technical deterioration occurred despite a recent integration where OKX went live on the Uniswap platform, an event aimed at boosting liquidity and trading efficiency for users.
Uniswap’s UNI token faced renewed selling pressure this week after breaking below a critical weekly support zone. According to crypto analyst Crypto Pulse, price action completed a head-and-shoulders pattern with a neckline between $4.70 and $5.60.
Last week’s weekly candle close below this structure indicated increasing bearish control in the market. Crypto Pulse stated that a decisive weekly close below the $4.70 level could open the door toward a projected downside target near $2.
TradingView data shows UNI remains in a clear short-term downtrend as of Thursday, January 29. The price is positioned below the Ichimoku cloud and its key lines, indicating a strong bearish bias.
Momentum indicators further support the bearish outlook, with the Relative Strength Index near oversold levels. The MACD indicator also shows declining bearish momentum, as highlighted in the data.
Despite the technical weakness, OKX expanded its decentralized finance offerings by going live on the Uniswap platform. This integration allows OKX users to access one of the largest DeFi liquidity pools.
The move leverages Uniswap’s on-chain infrastructure to improve trade speed and reduce slippage. Market participants are now weighing this ecosystem development against the persistent technical pressure on UNI’s price.
