According to CoinMeta, the UNI token of Uniswap fell by about 10% within 24 hours on August 12, continuing a technical downtrend, despite Bitcoin remaining relatively stable. This sell-off pushed the price down to $3.52, breaking below all major moving averages on the four-hour chart. Derivative data indicates that market leverage is being reduced, rather than a new deterioration in the Uniswap underlying protocol. The latest decline of UNI accelerated after it lost the $3.80 range, which previously provided an important long-term technical reference point due to its 200-period simple moving average. Currently, the four-hour RSI of UNI has dropped to around 27.6, below the traditional oversold threshold of 30.