Analyst Warns of Potential Uniswap Plunge: Will $6 Hold or Break?

Uniswap’s price continues to face downward pressure, leaving traders wondering how much further it might fall. CryptoPulse analyst warns that a key level near $6 may act as a trigger for significant losses if broken. Analysis suggests that a sustained breakdown below this threshold could send UNI prices plummeting towards the $4.70 range—a potential drop of 20-25%. The chart highlights a clear bearish trend, with lower highs and lower lows indicating an ongoing bear market. The rising wedge pattern on the daily chart adds to these concerns, signaling a continuation of the downward trajectory if this pattern breaks down.