Uniswap Drops 11.7% Despite Regulated CME Futures Announcement

The Uniswap token (UNI) fell 11.7% and began trading at $9.20. With that, it dropped below both the 20-day moving average ($9.27) and the 50-day moving average ($9.51), although it remains well above the 200-day average, at $3.88.
The drop came despite news seen as positive: CME Group announced regulated UNI futures contracts, in a standard version of 10,000 tokens and a Micro version of 1,000 tokens. The move expands access for institutional investors, but the market is still assessing when and how these products will gain volume.
Technical signals point to selling pressure. The MACD shows a strong sell signal, the RSI is at 41.80, and the session had a gap-down open and closed near the low. The nearest resistance sits at $9.79.
For the next two or three sessions, the expectation is a swing between $8.46 and $10.83. Estimates put a 74% chance of further declines, and the $8.46 level becomes the support to watch.
Source: Traders Union.
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