UNI climbs toward key resistance despite broader crypto market decline, defying Bitcoin’s drop below $63,000.
Uniswap’s native token (UNI) approached $3.88 resistance on Tuesday, bucking a broader cryptocurrency downturn. The move comes as Bitcoin (BTC) retreated toward $63,000 from July highs, pressuring altcoins.
UNI’s resilience follows renewed retail demand, with the token testing its 200-day exponential moving average (EMA). The 200-day EMA often acts as a critical support or resistance level for traders. Bitcoin’s decline has weighed on the sector, but UNI’s relative strength suggests selective buying interest.
No immediate market reaction data was provided, but the divergence between UNI and BTC may signal shifting sentiment among crypto traders.