AMBCrypto Analytics: If this prediction comes true, $UNI price will fall below $10

Uniswap $UNI registered an 81% move higher on the 23rd of February, measured from the day’s low to high.

The cyan channel from $3.65 to $7.7 represented a range formation on the weekly chart. In November, UNI broke out past the mid-range level at $5.3, forming a fair value gap.

This region was retested multiple times in recent months as support, but UNI did not close a daily session beneath 50% of the FVG’s width.

Similarly, UNI recent rally to $12.85 formed a large FVG, or imbalance. The 50% mark for this imbalance stood at $9.22. A retracement to this support would present an ideal buying opportunity. Even a plunge as low as $7 would be considered to be within the demand zone.

The RSI and the market structure were firmly bullish. However, the OBV retraced all the gains made. It is not a signal of a reversal by itself, but it suggests that the bulls have run out of steam, at least for the moment.