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CoinDesk 2025-06-02 10:14:34

UNI Battles $6 Support as Tariff Fears and Rate Jitters Rattle Crypto Sentiment

UNI Battles $6 Support as Tariff Fears and Rate Jitters Rattle Crypto Sentiment

The cryptocurrency market continues to feel the effects of global economic tensions, with investor sentiment swaying under the weight of rising geopolitical risks and trade uncertainty. Uniswap’s UNI token saw a sharp intraday swing between $6.045 and $6.385 before stabilizing above $6.11, signaling cautious buyer support, according to CoinDesk Research's technical analysis data model. Although UNI briefly rebounded after early losses, analysts warn that macroeconomic headwinds — including tariff escalations and delayed monetary easing — may cap near-term gains even as key technical levels hold for now. Technical Analysis Highlights UNI experienced significant volatility over 24 hours, with prices peaking at $6.385 before declining sharply to a low of $6.045, representing a 5.33% range. A notable resistance zone formed around $6.30–6.38, with high-volume selling emerging at these levels, particularly during the 23:00 hour. Support was established at the $6.05–6.08 range, where buyers stepped in during early hours of June 2. A declining volume profile and failure to reclaim earlier highs suggest bearish momentum may continue in the short term. In the final hour of the analysis window, UNI showed a recovery pattern, climbing from $6.146 to $6.176 for a 0.48% gain. Strong support held at $6.148–6.152 during a brief sell-off at 07:35, reinforcing that zone as a key short-term floor. Volume analysis shows renewed buying interest during the 08:00 candle, where price surged to $6.176 on above-average volume. UNI is currently hovering near the $6.12–$6.18 resistance band; a clear breakout above this level remains key for confirming any potential bullish reversal.

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