Since 18 August, Uniswap [UNI] has failed to close above $5 on the daily chart, giving the leeway for further depreciation. However, the drop hasn’t exceeded $4.5 as bulls turned it to immediate support. In the meantime, Bitcoin [BTC] saw a price rejection at $26.8k, making it a new resistance level. If BTC fails to clear the new resistance in the next few days, UNI’s struggles below $5 could be extended.