DAILY NOTION: Uniswap Flashes Multiple Sell Signals Projecting a Correction Towards $3
Uniswap had a massive 155% bull rally from its low point of $1.75 on November 5.
It seems that the digital asset is finally topping out after a strong rejection from $4.48 and several bearish indicators that have formed in the short-term.
Uniswap price might be poised for a pullback
On the daily chart, Uniswap price has formed a clear bearish divergence with the RSI. The digital asset got rejected from the top of $4.48 and plummeted to a low of $3.8, around 48 hours later.
Additionally, on the 12-hour chart, the Moving Average Convergence Divergence (MACD) crossed bearishly as the 12-Exponential Moving Average (EMA) and the 26-EMA also had a death cross, a heavily bearish indicator. This adds credence to the pessimistic outlook.
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