As of writing, earlier price declines have eased, withAfter a brief breakout, the 14-day relative strength index is also tracking marginally above a support of its own at 40.95.Like ethereum classic, UNI was also in the red to start the week, as the token moved closer to a multi-month low.
On Monday, UNI/USD found itself trading below a support point of $5.50, with prices falling to as low as $5.42., this is the lowest level UNI has hit since July, however in this instance the bottom occurred on July 11.Looking at the chart, the sell-off led to the RSI hitting a floor of 36.15, with bears using this as a signal to secure previous gains.
Currently UNI is trading higher, with prices close to climbing above the aforementioned support point of $5.50. Should this happen, bullish sentiment will likely begin to return, with traders likely looking to push the token above $6.00.Tags in this story
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