Uniswap (UNI) and Injective (INJ) are both facing critical technical breakdowns as selling pressure intensifies across parts of the altcoin market. UNI has fallen nearly 20% over seven days to trade around $3.23 on Aug. 14, while INJ dropped 9.97% in 24 hours to $4.17 and tested its 200-day moving average.
UNI's decline accelerated after a head-and-shoulders pattern identified by analyst Crypto With Gopal. The right shoulder failed near $4.20 before the token broke below the neckline around $3.90, with a projected downside target near $3.00. The daily chart shows UNI has lost the 78.6%, 61.8%, and 50% Fibonacci retracement levels, and is now testing the 38.2% retracement at $3.19. Aroon Down at 92.86% and negative Chaikin Money Flow indicate sellers remain in control. Liquidation clusters between $3.45 and $3.65 could act as resistance if price attempts a rebound, while a daily close below $3.17 could open a path toward $3.00 and $2.86.
INJ's move below the 0.618 Fibonacci retracement at $4.491 and into the 200-day simple moving average at $4.126 came on just 568,890 INJ of volume, significantly lighter than earlier swings. RSI at 36 is weak without being oversold, and no bullish divergence has formed. The token has printed a sequence of lower highs since June, and the next structural support sits around $3.712 to $3.910 if the 200-day average fails. Notably, Injective has continued shipping upgrades, including June's Vulcan release with native USDC support and lower oracle gas costs, and the IIP-677 upgrade that expanded cross-chain asset routing. At AdventureX 2026 in Hangzhou, more than 50 projects came through the Injective track, but that fundamental progress has not yet translated into token strength.
Both assets face negative momentum, but UNI's breakdown appears more confirmed by volume and liquidations, while INJ's break lacks heavy participation and could reverse if volume expands on a recovery. Traders are watching whether UNI can reclaim $3.45, and whether INJ can close back above the 200-day average.
