Disclaimer:\u00a0The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.<\/em><\/p>\n Uniswap<\/a> has performed well in the markets in recent weeks. It posted gains of nearly 26%, measured from the lows in late September to the swing high it made the previous day.<\/p>\n In doing so, it formed a bearish reversal pattern, even though it retained bullish momentum. This could change<\/a> over the next few days.<\/p>\n Here\u2019s AMBCrypto\u2019s Price Prediction for Uniswap [UNI]<\/a> in 2022<\/p>\n Bitcoin<\/a> was unable to climb above $20.4k yet again. If BTC fell below $19k, it could accelerate the losses for altcoins across the market. There were two important levels that short-term Uniswap bulls would have their eyes on.<\/p>\n Source: UNI\/USDT on TradingView<\/p>\n<\/div>\n On the 4-hour chart, a rising wedge pattern<\/a> (white) was spotted. In the past few days, UNI had managed to hold on to the $6.75 support level.<\/p>\n However, at the time of writing, it looked set to slip below. The wedge\u2019s lower trendline support as well as the horizontal support at $6.75 could be broken in the coming hours.<\/p>\n The RSI stood at 48.46 at press time. If it dropped below 45 in the next few hours, the indication would be a flip in momentum in favor of the sellers. The Stochastic RSI was at oversold territory as well.<\/p>\n In the event that the $6.75 was lost as support, a bearish scenario can develop if the price further fell below the $6.47 level. This would flip the 4-hour structure to bearish. The highlighted region around $6.6 could serve as a resistance zone and facilitate a drop for UNI as far south as $6-$6.2.<\/p>\n On the other hand, the $6.5-$6.6 has been a significant level on lower timeframes. If Bitcoin can defend the $19k region over the next few hours and begin to reverse, UNI could see a bounce from $6.6 as well.<\/p>\n Source: Coinglass<\/a><\/p>\n<\/div>\n The Long\/Short ratio on Coinglass showed a very slight advantage to the sellers on the futures market. A look into the funding rate<\/a> page showed that Uniswap has been bullish in the past 24 hours as it had a positive funding rate.<\/p>\n However, this fact has changed in the past few hours as the lower timeframe market participants flipped their bias to bearish.<\/p>\n A move below $6.6 could spark a fall to $6.2, especially if Bitcoin continued to fall.<\/p>\n A 4-hour session close below $6.47 would flip the structure to bearish. Traders can look for short entries near $6.5-$6.6. Alternatively, a surge back above $7 and its subsequent retest as support could offer a buying opportunity.<\/p>\n<\/p><\/div>\n\n
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\nA rising wedge spotted, losses could be imminent<\/h4>\n
![\"Uniswap](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/PP-1-UNI-price.png\")
<\/a><\/p>\nFunding rate swerves toward neutral<\/h4>\n
![\"Uniswap](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/PP-1-UNI-longvshort.png\")
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