Uniswap ($UNI ) has fallen by 11.20% to $3.22 in the last 24 hours, significantly worse than the generally weakened cryptocurrency market. This is primarily due to a massive sell-off of altcoins amid strong investor fear.

UNI
UNIUSDT
3.228
-4.55%

If UNI holds above the psychological support level of $3.00, consolidation is possible. A downward breakout could lead to a decline to the yearly low of around $2.80. Watch for a recovery of the 7-day simple moving average at $3.42 — this could signal short-term relief.

The drop in UNI is caused by overall caution in the market, rather than specific issues with Uniswap. Bitcoin has fallen by 1.68%, while UNI — more than 6.7 times stronger, indicating high volatility and UNI's sensitivity to market fluctuations. The Fear and Greed Index from CoinMarketCap is currently at 8 ('Extreme Fear'), reflecting a mass exodus of investors from riskier assets like altcoins.#UNI $FHE $VANRY