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UNI Price Prediction – Uniswap Recovery Could Remain Capped

UNI price turned red and declined below the $10.00 support. Uniswap is showing many bearish signs and recoveries could face hurdles near $10.00.

  • UNI started a fresh decline below the $10.00 support zone.
  • The price is trading below $9.50 and the 100 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $10.25 on the 4-hour chart of the UNI/USD pair (data source from Kraken).
  • The pair might recover but the upsides might be limited above $10.00.

UNI Price Takes Hit

After the SEC news, UNI started a major decline. There was an increase in selling pressure on Uniswap below the $12.00 pivot level. The price declined over 15% and traded below the $10.00 support. It also increased some pressure on Bitcoin and Ethereum.

There was also a drop below the $9.20 level. The price traded as low as $8.72 and it is still showing many bearish signs. There is also a key bearish trend line forming with resistance near $10.25 on the 4-hour chart of the UNI/USD pair.

UNI price is now trading well below $10.00 and the 100 simple moving average (4 hours). Immediate resistance on the upside is near the $9.45 level. It is near the 23.6% Fib retracement level of the downward move from the $11.79 swing high to the $8.72 low.

The next key resistance is near the $10.25 level or the trend line. It coincides with the 50% Fib retracement level of the downward move from the $11.79 swing high to the $8.72 low.

UNI Price Prediction

Source: UNIUSD on TradingView.com

A close above the $10.25 level could open the doors for more gains in the near term. The next key resistance could be near $11.80, above which the bulls are likely to aim a test of the $12.00 level. Any more gains might send UNI toward $13.50.

More Losses In Uniswap?

If UNI price fails to climb above $9.45 or $9.50, it could continue to move down. The first major support is near the $8.70 level.

The next major support is near the $8.50 level. A downside break below the $8.50 support might open the doors for a push toward $7.65.

Technical Indicators

4-Hours MACD – The MACD for UNI/USD is gaining momentum in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for UNI/USD is below the 25 level.

Major Support Levels – $8.70, $8.50, and $7.65.

Major Resistance Levels – $9.45, $10.00, and $10.25.

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Uniswap V4 Catalyst: UNI Token Primed For Growth As New Chain Launch Loom

Uniswap, one of the world’s largest decentralized exchanges (DEX), is poised for significant growth with the upcoming launch of its V4 upgrade. This anticipated update will introduce custom Automated Market Maker (AMM) functionality directly on top of Uniswap, eliminating the need for separate AMM designs.

In addition, Uniswap’s governance token, UNI, has seen notable growth, with a 6.8% increase in the last 24 hours and an 8% increase in the previous 30 days, bringing the UNI token to $7.318.

However, while these developments favor the exchange and investors, decentralized finance (DeFi) researcher DeFi Ignas has raised concerns regarding the launch and its potential impact on critical features.

The Ultimate DeFi Liquidity Solution With Uniswap V4?

According to DeFi Ignas’ latest analysis on X (formerly Twitter), Uniswap V4 represents a significant transformation from a protocol to a platform. Like the Apple Store’s impact on the iPhone, Uniswap V4 will consolidate all pools into a single framework, reducing creation costs by 99% and enabling more cost-effective multi-pool swaps.

The introduction of the “Hooks” system is particularly noteworthy. These hooks act as plugins or extensions, allowing for customized code execution during crucial events within a pool. 

The 13 available hooks enable various functionalities, including on-chain limit orders, time-weighted average market making, liquidity depositing into lending protocols, auto compound liquidity provider (LP) fees, and know-your-customer (KYC) integration.

Introducing hooks leads DeFi Ignas to believe that the launch of Uniswap V4 will allow developers to experiment and launch their protocols while leveraging Uniswap’s liquidity.

According to the researcher, this has the potential to attract even more liquidity from other decentralized exchanges and establish Uniswap as the dominant liquidity layer for all DeFi activities, from trading to lending.

Yet, while unified liquidity may benefit users by increasing market efficiency, it raises concerns about potential market concentration and stifling of competition.

UNI Token Gains Momentum

Uniswap’s V4 liquidity sourcing could concentrate liquidity within the platform, potentially making it the go-to liquidity layer for DeFi. According to DeFi Ignas, this dominance, coupled with Uniswap’s operating license that prohibits forking until 2027, raises questions about market competition and the potential impact on decentralized finance. 

In addition, reports suggest that Uniswap Labs has sent takedown notices to gateways of the InterPlanetary File System (IPFS) – a decentralized and distributed protocol designed to facilitate the storage and sharing of files on a peer-to-peer network – adding another layer of concern about decentralized access and censorship resistance.

Regarding the potential upside of Uniswap V4 acting as a catalyst for the exchange’s token, the research went on to suggest that while UNI’s value “accrual” for retail investors has been relatively modest, the introduction of Uniswap V4 and its hooks opens up new possibilities.

In this sense, DeFi Ignas believes the UNI token could function as a platform/ecosystem token, benefiting from third-party decentralized applications (dApps) developed using Uniswap’s hooks, expanding the token’s use cases and potentially attracting more investors.

Additionally, there is speculation that Uniswap may solidify its dominance and liquidity by launching its chain, potentially as a layer-two (L2) solution, which could further boost the valuation of the UNI token.

Uniswap V4

As the upgrade deadline for Uniswap approaches, the impact of the exchange’s upgrade on the UNI token remains uncertain. However, there has been a noticeable growth in the token’s value over the past few weeks. 

After reaching a 17-month high of $8.260 in January, the token experienced a correction but has since broken out of that pattern. As the upgrade deadline draws near, it is yet to be determined whether the token can consolidate its gains and regain previous levels.

Featured image from Shutterstock, chart from TradingView.com

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UNI Price Prediction – Uniswap Bulls Sight Key Bullish Move To $7

UNI price is moving higher from the $6.00 support. Uniswap is up 5% and it could rally if there is a clear move above the $6.35 resistance zone.

  • UNI started a fresh increase from the $5.50 support zone.
  • The price is trading above $6.00 and the 100 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $6.20 on the 4-hour chart of the UNI/USD pair (data source from Kraken).
  • The pair is showing bullish signs and might rally if it clears the $6.35 resistance.

UNI Price Aims Higher

After forming a support base above $5.65, UNI started a fresh increase. There was a decent upward move in Uniswap above the $6.00 and $6.20 resistance levels.

However, the bears were active near the $6.35 zone. A high was formed at $6.33 before there was a downside correction. The price declined below the $6.20 level. There was a move below the 23.6% Fib retracement level of the upward move from the $5.53 swing low to the $6.33 high.

It tested the $6.00 support and the 50% Fib retracement level of the upward move from the $5.53 swing low to the $6.33 high. Uniswap is rising again above the $6.10 level, outperforming Bitcoin and Ethereum.

UNI price is trading above $6.00 and the 100 simple moving average (4 hours). Immediate resistance on the upside is near the $6.20 level. There is also a key bearish trend line forming with resistance near $6.20 on the 4-hour chart of the UNI/USD pair.

UNI Price Prediction

Source: UNIUSD on TradingView.com

The next key resistance is near the $6.35 level. A close above the $6.35 level could open the doors for more gains in the near term. The next key resistance could be near $7.00, above which the bulls are likely to aim a test of the $7.20 level. Any more gains might send UNI toward $7.50.

Dips Supported in Uniswap?

If UNI price fails to climb above $6.20 or $6.35, it could start another downside correction. The first major support is near the $6.00 level.

The next major support is near the $5.85 level. A downside break below the $5.85 support might open the doors for a push toward $5.50.

Technical Indicators

4-Hours MACD – The MACD for UNI/USD is gaining momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for UNI/USD is above the 50 level.

Major Support Levels – $6.00, $5.85 and $5.50.

Major Resistance Levels – $6.20, $6.35 and $7.00.

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UNI Price Prediction – Uniswap Momentum Reignites, 15% Lift-off Possible

UNI price is moving higher from the $5.65 support. Uniswap is up 5% and it seems like the bulls could aim a fresh surge toward the $8.00 zone.

  • UNI started a fresh increase above the $6.00 and $6.20 resistance levels.
  • The price is trading above $6.50 and the 100 simple moving average (4 hours).
  • There was a break above a key bearish trend line with resistance near $6.60 on the 4-hour chart of the UNI/USD pair (data source from Kraken).
  • The pair is showing bullish signs and might rally if it clears the $7.25 resistance.

UNI Price Aims Higher

After forming a support base above $5.65, UNI started a fresh increase. The bulls were able to push Uniswap’s price above the $6.00 and $6.20 resistance levels, outperforming Bitcoin and Ethereum.

There was a break above a key bearish trend line with resistance near $6.60 on the 4-hour chart of the UNI/USD pair. The pair even cleared the $6.75 resistance level. It is now approaching the 50% Fib retracement level of the downward move from the $8.24 swing high to the $5.67 low.

UNI is now trading above $6.50 and the 100 simple moving average (4 hours). Immediate resistance on the upside is near the $6.95 level. The next key resistance is near the $7.250 level. It is close to the 61.8% Fib retracement level of the downward move from the $8.24 swing high to the $5.67 low.

UNI Price Prediction

Source: UNIUSD on TradingView.com

A close above the $7.25 level could open the doors for more gains in the near term. The next key resistance could be near $7.65, above which the bulls are likely to aim a test of the $8.00 level. Any more gains might send UNI toward $8.25.

Dips Supported in Uniswap?

If UNI price fails to climb above $6.95 or $7.25, it could correct further lower. The first major support is near the $6.60 level or the 100 simple moving average (4 hours).

The next major support is near the $6.25 level. A downside break below the $6.25 support might open the doors for a push toward $6.00.

Technical Indicators

4-Hours MACD – The MACD for UNI/USD is gaining momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for UNI/USD is well above the 50 level.

Major Support Levels – $6.60, $6.25 and $6.00.

Major Resistance Levels – $6.95, $7.25 and $8.00.

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UNI Price Prediction – After 25% Rally Uniswap Turned Attractive On Dips

UNI price rallied over 25% and climbed above $6.20. Uniswap is now consolidating gains and any dips might be attractive to the bulls in the near term.

  • UNI started a fresh increase above the $5.20 and $6.00 resistance levels.
  • The price is trading above $5.80 and the 100 simple moving average (4 hours).
  • There was a break above a key declining channel with resistance near $5.25 on the 4-hour chart of the UNI/USD pair (data source from Kraken).
  • The pair might correct lower, but the bulls could be active near the $5.60 and $5.55 levels.

UNI Price Regains Strength

After forming a support base above $4.80, UNI started a fresh surge. The bulls were able to push Uniswap’s price above the $5.25 and $5.30 resistance levels, outperforming Bitcoin and Ethereum.

There was a break above a key declining channel with resistance near $5.25 on the 4-hour chart of the UNI/USD pair. The pair pumped over 25% and even climbed above $6.20. A new multi-week high was formed near $6.60 and the price is correcting lower.

There was a move below the $6.25 level. Uniswap is now approaching the 23.6% Fib retracement level of the upward move from the $4.83 low to the $6.60 high.

UNI is still trading above $5.80 and the 100 simple moving average (4 hours). If there is a fresh increase, the price might face resistance near the $6.40 level. The next key resistance is near the $6.60 level. A close above the $6.60 level could open the doors for more gains in the near term.

UNI Price Prediction

Source: UNIUSD on TradingView.com

The next key resistance could be near $6.88, above which the bulls are likely to aim a test of the $7.00 level. Any more gains might send UNI toward $7.20.

Dips Supported in Uniswap?

If UNI price fails to climb above $6.40 or $6.60, it could correct further lower. The first major support is near the $6.05 level. The next major support is near the $5.70 level.

The mains support is near $5.55 or the 61.8% Fib retracement level of the upward move from the $4.83 low to the $6.60 high. A downside break below the $5.55 support might open the doors for a push toward $5.00.

Technical Indicators

4-Hours MACD – The MACD for UNI/USD is losing momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for UNI/USD is well above the 50 level.

Major Support Levels – $6.05, $5.70 and $5.55.

Major Resistance Levels – $6.40, $6.60 and $7.00.

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Crypto Analyst Presents Uniswap’s UNI As The Next Coin Primed For Breakout

Several altcoins are currently on the rise following Bitcoin’s resurgence, and popular crypto analyst Ali Martinez has singled out the Uniswap UNI token as one of those tokens that could rally further as he projects that UNI is set to break out soon from its current resistance level. 

Why Uniswap Is Poised For A Breakout

In a post shared on his X (formerly Twitter) platform, Martinez noted that the majority of UNI holders were positioned ‘Out of the Money,’ which suggests that the token was preparing for a breakout. Accompanying his post was data from the crypto analytics platform Intotheblock based on the ‘Historical In/Out of the Money’ metric.

The data shows that over 75% of the token holders are ‘out of the money’, which means that they were yet to break even in their investments as the average cost price at which they bought these tokens is greater than its current price. 

Uniswap UNIMore addresses are out of the money | Source: IntoTheBlock

Furthermore, the crypto analyst explained that selling pressure has gotten exhausted and that the UNI token has been able to build “an important support” level at around $4. This could serve as a lift-off point for the altcoin.

Key Supply Walls UNI Needs To Break

To further support his breakout theory, Martinez noted two supply walls that UNI “needs” to overcome in order to signal a bullish breakout. According to him, one of these supply walls is at $4.23, where data from Intotheblock shows that 7,000 addresses have bought 14.24 million worth of UNI. 

The other supply wall is at $4.45, where data from Intotheblock shows that 2,000 Uniswap addresses have accumulated 10.28 million worth of UNI. Whales and institutional players may also be aware of this potential breakout and may be looking to position themselves, as Martinez noted. 

The crypto analyst also recently commented on a potential Ethereum breakout. In a different post on his X platform, he said that the second largest cryptocurrency by market cap will need to overcome the huge supply wall at $1,960, where data from Intotheblock showed that 1.14 million addresses bought close to 33 million ETH.

Meanwhile, Martinez believes that now is a good time for people to accumulate Bitcoin based on his examination of the past two cycles from the market bottom and the present Bitcoin trend. According to him, a similar trajectory points to the next Bitcoin market top being around October 2025.

At the time of writing, the UNI token is trading at around $4.10, according to data from CoinMarketCap. 

Uniswap UNI price chart from Tradingview.com (Crypto analyst)

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Uniswap Price Struggles At $5.49, Will There Be A Run Up To $6?

After sustaining bullish price action for the past two days, the Uniswap price has registered a shift in its price movement. With a 0.9% loss in the last 24 hours, price sentiment has shifted toward the bears.

At press time, Uniswap has struggled to move past its rigid resistance mark of $4.50. There is a chance that investors could book profits if UNI moves past the aforementioned price level.

The coin has, however, struggled at its immediate resistance of $5.49. Uniswap has to flip the critical resistance into the support zone to move up to its next price ceiling of $6.

If Uniswap price does not sustain above $5.49, then the altcoin could lose the support floor at $4.99. That would invalidate the bullish momentum, bringing the coin down to the next level.

Uniswap Price Analysis: One-Day Chart

Uniswap Price

Uniswap was priced at $5.46 on the one-day chart | Source: UNIUSD on TradingView

UNI was trading at $5.46 at the time of writing. The coin had almost breached the $5.49 price level, but the coin met with a sell-off. If the cryptocurrency fails to trade above $5.49, it will lose momentum. Buyers have to take precedence if the bearish momentum has to be negated.

Overhead resistance stood at $5.70, and moving above that would help the altcoin climb to $6. In the event of a downward trend, UNI will remain at $4.70 for some time before moving further. The amount of UNI traded in the last session increased, signifying an increase in demand.

Technical Analysis

Uniswap Price

Uniswap registered an increase in buyers on the one-day chart | Source: UNIUSD on TradingView

Buyers have increased over the past trading sessions, although the indicators remain below the neutral zone. This is an indicator that the market has yet to register substantial demand. The Relative Strength Index was above the 40 mark, signifying that sellers were still active.

If the buyers take charge in the next trading session, UNI will turn bullish again. Regarding buying strength, UNI was below the 20-Simple Moving Average line, which meant that sellers were driving the price momentum in the market.

The De-Fi token has to flip $5.70 to a support line, so the bulls register a considerable upswing price.

Uniswap Price

Uniswap pictured sell signal on the one-day chart | Source: UNIUSD on TradingView

UNI has not yet broken free from the grip of the bears, as the coin indicated the presence of a sell signal on the one-day chart. The Moving Average Convergence Divergence displays price momentum and changes in trends. MACD was still forming red signal bars, which correspond with a sell signal.

The Directional Movement Index (DMI) was negative as the -DI (orange) line was above the +DI (blue) line, which pictured a bearish trend. The average Directional Index (red) ran above the 20-mark to signify strength in the bearish thesis. Should the bearish thesis be invalidated, a jump above $5.49 remains crucial.

Featured Image From UnSplash, Charts From Tradingview

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Uniswap Price Breaks Past The $7 Mark After Forming This Pattern

Uniswap price has been able to break past the consolidation phase. Over the last 24 hours, the altcoin has moved up by more than 4%. In the past week, the coin surged close to 8%, which can be equated to a rally.

UNI has been consistently green ever since the other altcoins started to travel north on their charts. The technical outlook of the coin also agreed with the bullish force.

However, it is important for Uniswap to maintain this momentum and trade above its immediate price ceilings. If not, then the bulls could soon lose their strength.

Buyers have been supportive of the bulls. As noted on the one-day chart, demand for Uniswap grew substantially.

It is important that UNI trades above the $8 price mark in order for the coin to come under complete bullish control.

Uniswap price has continued to form higher highs, which are tied to strong bullish momentum. The global cryptocurrency market cap today was at $1.04 trillion, with a 0.5% positive change in the last 24 hours.

Uniswap Price Analysis: One-Day Chart

Uniswap Price

Uniswap was priced at $7.047 on the one-day chart | Source: UNIUSD on TradingView

UNI was trading at $7.04 at the time of writing. The coin has struggled considerably to cross the $7 price mark for the past few weeks.

Overall market strength helped the bulls to zoom past the $7 price mark. The coin encountered immediate resistance at $7.40.

This is a crucial price mark for the coin. Once the bulls manage to break above $7.40, the coin could experience another resistance at $7.90 before it can trade above the $8 price level.

A fall from this level will take the altcoin to the $6.47 price level and then to the $6.02 support line. The amount of UNI traded in the last session also appreciated, indicating that buyers had increased in number.

Technical Analysis

Uniswap Price

Uniswap noted an increase in buying strength on the one-day chart | Source: UNIUSD on TradingView

The altcoin for the past month and a half noted more selling pressure compared to buying strength. With its recent break from lateral trading, buyers are finally back on the chart.

The Relative Strength Index was above the 60-mark, which is considered bullish with more buyers compared to sellers.

Additionally, UNI formed a bullish engulfing pattern which happens when the chart pictures bigger-sized greener candles. This pattern is tied to positive price action.

The Uniswap price was above the 20-SMA line which signified growth in the altcoin’s demand. It also meant that the buyers were driving the price momentum in the market.

Uniswap Price

Uniswap displayed buy signal on the one-day chart | Source: UNIUSD on TradingView

UNI was under a bullish influence, as pointed out by other technical indicators as well. The Moving Average Convergence Divergence indicates the strength and direction of an asset.

The MACD underwent a bullish crossover and formed green histograms. These were the buy signal for the altcoin. Bollinger Bands measure price volatility and price fluctuation.

The bands were moving parallel to each other, signifying that price movement will not experience any sharp volatility over the upcoming trading sessions.

Featured Image From VOI, Charts From TradingView

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Uniswap Sellers Stop But RSI Develops Bearish UNI Price Divergence

Cryptocurrencies have been suffering higher volatility since the bear took control. For example, the fledgling crypto coin Bitcoin price plummeted to a low of $18,363 on Oct 13 and then reversed to $19,354 today. Unlike the other top coins creeping, Uniswap’s native token, UNI, marks higher gains. Although its price touched $5.50 when BTC plummeted on Thursday, UNI added over 14% following the day and claimed a $6.49 high.

At the time of writing, the token’s value hovers around $6.20, up by 0.96% in the last 24 hours. The Uniswap market cap also indicates a bullish trend, signifying the crypto winter started to ignore the project. Its capitalization has increased to $4.70 billion, representing a 0.24% gain.

Financial Indicators MACD Line And RSI Suggest Bearish Divergence

In line with the daily price analysis, UNI against USD presents a bullish trend ahead. The price actions form a high-low pattern which signs an uptrend for the token. As recent price moves show, investors did not miss any opportunity and connected with all swing lows. Likewise, Uniswap ended its retracement phase below $5 in the last week and now seems to find resistance above this. The expected price range for the token in October remains between $5.3 to $7.

Opposite to the positive happenings within the UNI network, the Moving Average Convergence/Divergence (MACD) line, an oscillator used to indicate market trends, currently points toward the bearish signal for the token and crosses the line. Likewise, the Relative Strength Index (RSI) shows a bearish divergence as its peak continues falling toward the 50 zone.

UNI’s price is currently trading at $6.15. | Source: UNIUSD price chart from TradingView.com
Uniswap To Deploy On zkSync For Cheaper Fee And Enhanced Security

UNI is the governance token of the decentralized exchange Uniswap, which allows users to trade and sell cryptos using smart contracts. It seems users and organizations are pushing for privacy in the sector, driving adoption and positively affecting prices. For example, on Wed, 12 October 2022, Coin Center, a think tank on cryptocurrencies, filed a suit against OFAC over restrictions against Tornado Cash, a privacy mixer (decentralized cryptocurrency tumbler). In return, almost the whole market reacted by going green as the news spread.

Notably, today’s announcement by the Uniswap platform might become a catalyst to pump the token’s price further. The Uniswap exchange has declared to build on the zkSync for enhanced privacy and security.

zkSync uses novel technology, also known as ZK Rollups, to enable faster transactions with minimum gas cost. The company decided to deploy privacy-focused layer two after completing a governance vote. Offering a minimum fee without compromising on security will attract more users and accelerate the network’s activity.

The parent company of zkSync, Matter Labs, commented that this move would onboard new users. Furthermore, the low network fee than Ethereum will make the platform more attractive. The company noted in a statement;

There’s significant value in Uniswap being available on an EVM-compatible ZK Rollup. Deploying early on zkSync helps solidify Uniswap’s place as the number one DEX and a thought leader.

Therefore, with zkSynce launch on mainnet within the next six weeks, investors’ wallets may profit from the project’s growth.  In addition, the token might enjoy resistance above $7 in the coming days, which the investors are hard to manage.

Featured image from Pixabay and chart from TradingView.com

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Uniswap (UNI) Outperforms Top Coins With Over 10% Gains In A Week

Uniswap is an Ethereum-based automated liquidity protocol. Its operations ensure constant security, decentralization, and censorship resistance in the crypto industry, removing the need for intermediaries.

The protocol is committed to managing a liquidity pool by each smart contract or pair of smart contracts. This liquidity is made up of two ERC-20 tokens reserves. The consistency of its system of operation seems to yield positive results, particularly in terms of its token.

Related Reading: Exchanges Close Q3 With Massive Bitcoin Outflows, Why A Rally Is On The Horizon

The decentralized exchange Uniswap has been quite popular in the crypto ecosystem recently. According to recent tweets from Ryan Watkins, the protocol’s latest version (V3) has realized up to $6.5 billion. He added that this current version is presently drawing closer to its V2. Ryan Watkins is a researcher at Messari. 

UNI Up By Double-Digit Percentage

While the broader crypto market struggles to recover from its red zone, UNI seems to be rising in its price. According to a 24-hour market watch, the token has witnessed a 7.22% gain. Its current price is about $6.73. This growth has placed it among the top 10 digital currencies in the crypto space.

Crypto Dream published a UNI chart, citing that although the market looks threatening, it’s on a bullish move. Crypto Dream is a Twitter account that offers technical analysis on digital currencies.

The UNI token gives a few reasons for investors to be glad. However, the same cannot be said about the general crypto market. 

UNI’s price is currently trading at $6.66. | Source: UNIUSD price chart from TradingView.com
Briefing on the Mainstream Bump

The mainstream financial publication of The Wall Street Journal resulted in the spike of Uniswap. This event occurred on May 24 and involved the DEX, according to an article that shared information about Nasdaq COIN (Coinbase) competing with crypto exchanges. At the time, Uniswap was grabbing some market shares, which was detrimental to its centralized peer Coinbase.

According to the Journal, Messari data compared Uniswap and Coinbase based on their trading volumes. At the time, the trading volume of Uniswap was a little above $36 billion and $110 billion as Coinbase’s.

Uniswap appealed, citing that it’s best for crypto traders to have more control over their assets. This way, they won’t have to leave it on trading platforms, hoping for sudden growth. 

But Coinbase, as a centralized exchange, prefers traders to leave their coins on trading platforms for additional security.

What About Other Cryptos?

While UNI is boasting of an increased weekly gain, other cryptos, such as Bitcoin and Ethereum, are still struggling. 

According to CoinMarketCap data, Bitcoin has gained 2.06% in seven days. This price movement is not encouraging for its supporters at all. Also, the 1-hour and 24 hours price gains stand at 0.26% and 1.25%, respectively. 

Ethereum is not doing so well. Its weekly gain is in red and stands at 0.07%, while the 1-hour and 24 hours gains stand at 0.44% and 3%. 

Related Reading: Is Bitcoin ‘Uptober’ About To Begin? | BTCUSD Analysis October 3, 2022

Many cryptos, such as Tether USDT, XRP, Binance USD, Cardano ADA, Dogecoin, Polkadot, DAI, and Avalanche, are all red in their respective weekly gains. 

Featured image from Pixabay and chart from TradingView.com

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Uniswap Price Continues Bearish Spell, Can It Move Past $6?

Uniswap price is consistently travelling southward on the one-day chart. UNI’s bulls have not been able to break past its immediate support, causing traders to lose confidence.

Over the last 24 hours, Uniswap lost 4% of its value. In the past week, UNI surged 4% on the one-day chart.

The technical outlook of UNI remained mixed with some signals pointing toward the bears taking over the market.

The coin’s current support zone was between $5.60 and $5.00, respectively. The bulls have constantly attempted to break past the $5.94 level.

This has caused buyers to leave the market as sellers have entered the one-day price chart. As Bitcoin struggles at $19,000, most altcoins also attempt to move past their immediate price ceilings.

If the Uniswap price continues to witness less demand, then over the next trading sessions the coin can attempt to touch the closest support line.

At the moment, UNI is trading extremely close to the local support line and if buying strength doesn’t pick up, the coin will fall below the immediate support line.

Uniswap Price Analysis: One Day Chart
Uniswap was priced at $5.69 on the one-day chart | Source: UNIUSD on TradingView

UNI was trading at $5.69 at the time of writing. The bulls have been defeated at the $5.94 resistance mark a couple of times.

Uniswap price can lose most of its gains if the coin continues to witness less demand. Overhead resistance stood at $5.94.

If UNI falls below that level, it will be reduced to $5.00. The amount of Uniswap traded in the last session fell, signalling that buying strength remained low. This indicated bearishness for UNI.

Technical Analysis
Uniswap registered low buying strength on the one-day chart | Source: UNIUSD on TradingView

UNI, for most of this month, traded in the selling zone. This is because the coin has been unable to topple over the immediate resistance mark.

This is because of the low demand for Uniswap at the time of writing. The Relative Strength Index was below the half-line, and that was a sign of increased selling strength over buying strength.

It also depicted bearishness on the one-day chart. The Uniswap price was below the 20-SMA line, an indication of less demand. It also means that the sellers are currently driving the price momentum in the market.

Uniswap continued to display buy signal on the one-day chart | Source: UNIUSD on TradingView

UNI’s technical indicators depicted mixed signals on the one-day chart. The Moving Average Convergence Divergence measures the price momentum and overall price action of the altcoin.

MACD underwent a bullish crossover and formed green signal bars. These green signal bars were buy signal for the coin.

This also could mean that, with increased demand, UNI might make a price comeback in the upcoming trading sessions.

Bollinger Bands portray price volatility and fluctuations. The bands had opened up, meaning that the coin was about to witness price volatility.

Featured Image From Somag News, Charts From Tradingview

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Uniswap Price Loses Momentum, Are The Bears Back?

The Uniswap price had risen to almost $6 on its chart, but the bulls were unable to maintain that level. Over the last 24 hours, the coin again lost momentum and fell south on its chart.

Over the last 24 hours, UNI registered a 0.9% increase in its price. In the past week, the coin negated most of its gains and lost 1.2% of its market value.

The Uniswap price technical outlook was bearish, and selling strength was higher, causing the price to drop further on its chart.

Although Uniswap tried to move in a different direction than the broader market, the bulls gave up. Bitcoin also lost the $19,000 price mark and is closing in on its immediate support level.

For the Uniswap price to revisit the $6 price mark, buyers need to re-enter the market.

Although just 48 hours ago the coin displayed a bullish stance, an increase in the number of sellers has invalidated the chance of a bullish revival.

The global cryptocurrency market cap today was $958 billion, with a 0.4% negative change in the last 24 hours.

Uniswap Price Analysis: One Day Chart
Uniswap was priced at $5.73 on the one-day chart | Source: UNIUSD on TradingView

UNI was trading at $5.73 at the time of writing. The coin was trading very close to the $6 mark. However, the buyers exited the market.

Overhead resistance for Uniswap price stood at $6, and if UNI can move over the $6.40 price level, the altcoin’s upward movement could be anticipated.

The nearest support level for the coin stood at $5. A fall from the $5 price mark could push UNI to trade near the $4 price zone.

The amount of Uniswap traded in the previous session indicated that selling strength increased on the one-day chart.

Technical Analysis
Uniswap depicted a fall in buying strength on the one-day chart | Source: UNIUSD on TradingView

The altcoin’s technical indicators note the bears taking over as buying strength dipped on the one-day chart. For most of the month of September, buying strength remained low for the altcoin.

The Relative Strength Index was below the half-line and that meant a lower amount of buying strength on the one-day chart.

Uniswap price was below the 20-SMA line. This meant bearishness for the coin. It meant that sellers were driving the price momentum in the market.

Uniswap depicted the onset of a buy signal on the one-day chart | Source: UNIUSD on TradingView

The technical outlook for Uniswap was also mixed as the indicators also picked up on buy signal for the coin. Despite buyers remaining low, indicators indicated that there could be a possibility of buy signal for the altcoin.

The Moving Average Convergence Divergence points toward the price momentum and overall price action of the coin. MACD underwent a bullish crossover and started to depict tiny green histograms as buy signals for UNI.

This meant that, with more buyers, UNI could recover its chart. The Chaikin Money Flow displays capital inflows and outflows. CMF climbed above the half-line, signalling more capital inflows compared to outflows.

Featured image from GreenBiz, chart from TradingView.com

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Uniswap (UNI) Price Struggles To Overcome $6.8 Resistance

A Uniswap (UNI) recent market downturn has forced UNI’s trading range to shrink significantly. During the bull market in July, UNI jumped by more than 60 percent in just over two days, prompting the subsequent fall.

After this price increase, the weeks that followed showed a reversal pattern known as a “head and shoulders,” which eventually led to a price decline.

The price showed significant volatility over a 16-day period, as evidenced by the market’s historical statistics. This volatility pointed to a fierce battle between bulls and bears.

Chart: TradingView.com

The bears clearly won this war, as the price of Uniswap fell by 17.30 percent, as shown in the figure.

Prior to a price reversal, the regression channel shows the declining trend even more strongly. Due to this turn of events, the cost of Uniswap has risen from $5.745.00 to $6.459.00, a price hike of 13.54 percent.

Nonetheless, the coin went through another period of volatility as price swings were driven by bulls and bears. It happened after Uniswap bulls attempted a break above the 50% Fibonacci retracement line.

Chart: TradingView.com

The bears prevailed once again in the end. The coin’s price dropped by an additional 15.54 percent after this victory. The loss of 13.54 percent in nine days was fully wiped out by the catastrophe.

Uniswap’s trend has been on the rise since the most recent market meltdown, which has brought us to our current position. But a problem occurred as a result of the movement; it narrows to a point towards the conclusion.

The leading trend line served as resistance. The Stoch RSI rating indicates that the currency experienced a single strong sell signal at this point.

Uniswap Chart: TradingView.com

This alerted Uniswap speculators and traders to the possibility of another market correction. In this predicament, UNI’s price can only move in two directions: up or down.

1 – the price will surpass the psychological resistance of $6.8 and continue to rise, and

2 – Uniswap price will not stabilize at the 50% Fibonacci retracement level before retracing.

This speculative activity prevents dealers and investors from conducting business in the area. It stands at such a vital place as any breakouts can result in big gains and losses.

As of this writing, Uniswap bulls are aiming to hold their position above the 50% Fib mark.

If the price breaks upward, it will gain speed towards the 38.20 Fibonacci level and may perhaps surpass it. If the price falls, it should not fall below the $5.87 support level.

UNI total market cap at $4.5 billion on the daily chart | Source: TradingView.com

Featured image from Somag News, Chart: TradingView.com

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Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next?

Uniswap price at the current moment has displayed a downward movement on its chart. The coin lost the $9 price mark and was moving closer to its local support level.

Over the last 24 hours, UNI depreciated considerably by 6%. Most gains that UNI logged were lost over the past week.

The technical indicator for UNI has depicted mixed trading signals. The buyers in the market have left owing to the recent fall in price.

For Uniswap price to pick up momentum, buying strength and demand for the coin remain quite crucial.

As selling pressure mounted, UNI started to flash bearish price signals on its chart. The price of the altcoin needs to experience a breakout for the bulls to drive the price momentum.

The coin broke below its $8.40 support line and fell below that. An increase in demand for the coin can help UNI recover over the next trading sessions.

Uniswap Price Analysis: Four-Hour Chart
Uniswap was priced at $8.30 on the four hour chart | Source: UNIUSD on TradingView

The altcoin was priced at $8.30 at the time of writing. Uniswap lost its immediate support line and the bears have changed that level to a resistance mark for the coin.

Overhead resistance for the altcoin was at $8.76, however, a tough price ceiling for the altcoin was at $9.30.

The coin has tried to break past the mentioned price mark a couple of times but was met with sellers in the market. The immediate price floor for the coin stood at $7.80.

Although over the past few weeks UNI has recovered considerably, the demand for UNI has to keep growing.

The volume of UNI traded in the last session has declined as there has been a fall in buying strength.

Technical Analysis
Uniswap depicted a small rise in buying pressure on the four hour chart | Source: UNIUSD on TradingView

UNI had moved closer to the oversold zone over the last trading sessions, however, it did not touch that zone. At the moment, the coin has low buying strength but the coin was not overbought.

The Relative Strength Index noted an uptick below the half-line signifying that the demand for the altcoin could register an increase over the next sessions.

Uniswap price was seen below the 20-SMA line, this signalled bearishness in the market. It also depicted that the sellers were driving the price momentum in the market.

Uniswap painted sell signal on the four hour chart | Source: UNIUSD on TradingView

The altcoin has flashed bearish signals on most technical indicators. UNI registered a sell signal on the four-hour chart. Moving Average Convergence Divergence depicts the price momentum and change in the momentum.

As demand for UNI has remained low, MACD underwent a bearish crossover and displayed red histograms.

The red histograms were sell signal for UNI. Chaikin Money Flow determined the capital inflows and outflows.

CMF was below the half-line as capital inflows were less than outflows at the time of writing. With increased demand and buying strength, the coin will attempt to move up on its chart.

Featured image from TechCentral, chart from TradingView.com

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Lateral Movement Of Uniswap, When Is There A Chance Of Correction?

Uniswap has displayed tight trading conditions for over the last 24 hours. The coin has been consolidating and it recorded minor losses over the last day. Although Uniswap performed well over the past week securing more than 30% gain, recently, the bulls seem to be resting.

Recently UNI broke past the $6.00 mark and it could be eyeing the $8.00 price ceiling now. Buying strength displayed slight decline but buyers were still more in number than sellers in the market. Bitcoin’s price action has helped many altcoins to rally but continued support from the buyers still remain crucial.

Going by the technical indicators, it seems though that UNI might hover around the same price zone at least over the upcoming trading sessions. After the rally, chance of a pullback cannot be ruled out, Currently UNI hasn’t witnessed a pullback but consistent consolidation could drag the coin to the nearest support level.

If it manages to clear its immediate resistance, there are chances for UNI to trade beyond the $8.00 price mark.

Uniswap Price Analysis: Four Hour Chart
Uniswap was priced at $7.41 on the four hour chart | Source: UNIUSD on TradingView

UNI was trading at $7.41 at press time and the coin was still optimistic on its chart. The current range of consolidation was between $7.33 and $7.49 respectively. A slight push from the buyers could help Uniswap to zoom past the $7.57 resistance mark.

If that happens, reaching $8.00 becomes easy and there could be a chance that UNI would trade above the $8.00 mark. On the flipside, the local support for the coin was at $7.08 and then at $6.47. A break below the $6.47 will push Uniswap near $5.38. Volume of UNI traded declined slightly pointing towards a slight fall in buying pressure.

Technical Analysis
Uniswap registered a small downtick in the number of buyers on the four hour chart | Source: UNIUSD on TradingView

UNI has witnessed growing buying strength on the chart ever since the coin rallied. There is a small downtick in the number of buyers even then buyers are still in control of the market. The Relative Strength Index was above the half-line and that meant buying pressure exceeded selling pressure.

Price of UNI was also above the 20-SMA line which signalled that buyers were driving the price momentum in the market. UNI was also above 50-SMA and 200-SMA which meant that the coin was trading on a bullish momentum.

Related Reading | Bitcoin Barrels Towards $24k As Miners Move $300 Million From Wallet

Uniswap registered fall in capital inflows on the four hour chart | Source: UNIUSD on TradingView

UNI was positive in terms of the buying strength however some indicators suggested otherwise. Chaikin Money Flow determines the capital inflows and outflows of the asset. Chaikin Money Flow was below the half-line and that meant a decline in the capital inflows. Moving Average Convergence Divergence picture the price momentum and a change in price trend.

MACD underwent bearish crossover and red histograms were seen below the half-line. This reading is connected to a change in the current price direction over the upcoming trading sessions and also a sell signal. If Uniswap has to remain in the bullish zone, buyers need to be present along with support from the broader market.

Related Reading | Bitcoin Dominance Dives As Ethereum Takes Up More Space

Featured image from Forbes India, chart from TradingView.com

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Charted: Uniswap’s UNI Sets New ATH At $45, Why It Could Extend Gains

Uniswap’s UNI gained momentum and traded to a new all-time high near $45.00 against the US Dollar. The price is likely to continue higher above $45.50 and $46.00 in the near term.

  • UNI started a fresh increase after forming a base above the $40.00 level against the US dollar.
  • The price is trading nicely above $42.00 and the 100 simple moving average (4-hours).
  • There was a break above a major contracting triangle with resistance near $40.00 on the 4-hours chart of the UNI/USD pair (data source from Kraken).
  • The pair is likely to continue higher if it clears the $45.00 and $45.50 resistance levels in the near term.

Uniswap’s UNI Gains Traction

After forming a support base above $40.00, UNI started a fresh increase. The last swing low was near $39.30 before the bulls pushed the price above the $42.00 resistance.

There was a break above a major contracting triangle with resistance near $40.00 on the 4-hours chart of the UNI/USD pair. The pair broke the $43.00 and $44.00 resistance levels. A new all-time high is formed near $45.05, with a bullish angle, unlike bitcoin and just like ethereum.

The price is now trading nicely above $42.00 and the 100 simple moving average (4-hours). An immediate support is near the $43.70 level. It is close to the 23.6% Fib retracement level of the upward move from the $39.30 low to $45.05 high.

Uniswap’s UNI

Source: UNIUSD on TradingView.com

On the upside, the price is facing hurdles near $45.00. A close above the $45.00 level could open the doors for a more gains in the near term. The next key resistance could be near $46.50, above which the bulls are likely to aim a test of the $50.00 level.

Dips Supported?

If UNI price fails to climb above $45.00 or $45.50, it could correct lower. The first major support is near the $43.70 and $43.50 levels.

The main support is now forming near the $42.00 zone. It is near the 50% Fib retracement level of the upward move from the $39.30 low to $45.05 high. A downside break below the $42.00 support might open the doors for a push towards the key $40.00.

Technical Indicators

4-Hours MACD – The MACD for UNI/USD is gaining momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for UNI/USD is well above the 60 level.

Major Support Levels – $43.50, $42.00 and $40.00.

Major Resistance Levels – $45.00, $46.50 and $50.00.

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Can Uniswap v3 prevent forks? Top lawyer breakdowns its license

After the release of Uniswap v2 in May 2020, several competitors for the DEX emerged, forking its codebase, launching new incentives, and their own governance model to attract users. Sushiswap is perhaps the most important.

To prevent something similar, the third iteration of the automated market maker will be released with a Business Source License 1.1. The license will expire after two years unless the community decides to accelerate its expiration. It will then adopt a GPL 2.0 open-source license.

With a tentative deployment date of May 5, General Counsel for Compound Finance, Jake Chervisnsky, believes it is possible that Uniswap v3 could prevent further forks, for a trade-off.

Chervinsky señala que es importante que los protocolos de finanzas descentralizadas operen con licencias de código abierto. Sin embargo, indica que la licencia de negocio de Uniswap no será “inútil” como muchos piensan. El experto afirmó:

This is where people say “good luck enforcing copyright against anon devs,” as if Uniswap’s BSL 1.1 license is useless. Wrong, for a few reasons. First, most dev teams aren’t fully anonymous. Like it or not, anonymity is tough to maintain, especially when a project succeeds.

In addition, Chervinsky said that the developers of a successful project have a difficult time remaining anonymous and indicated that they may not be the only targets in a potential lawsuit based on U.S. law.

The Uniswap Labs team could go after a third party that violates the license by choosing to integrate the fork. This includes exchanges, decentralized exchange aggregators, investors, liquidity providers, market makers, among others. The possibilities for lawsuits are broad and “It just depends how aggressive they want to be,” the lawyer said.

Adding that the “threat” of a lawsuit could be enough to enforce the license and prevent a fork of the code, the lawyer believes that litigation could be just part of Uniswap Labs’ defense arsenal without ever having to pursue it. Chervinsky cited the opinion of his colleague Collins Belton:

Ultimately, suing someone isn’t only way for legal remedies to have force. It’s also why I have to unfortunately highlight to some people that just because you *can* sue someone and win doesn’t mean it’s smart to do so (e.g. getting buried in costs and bankrupt before winning).

In conclusion, the value of the license could go beyond suing everyone who attempts to fork the decentralized exchange. Chervinsky predicts a future in which other protocols adopt a similar strategy.

The trade-off for this action could be increased centralization and reputational damage to the DEX. However, The lawyer believes that a “well-calibrated” legal strategy could be beneficial. He also highlighted that one of the license best aspects is the ability for UNI token holders to revoke it. Chervinsky added:

Given all this, I think it’s premature to say BSL 1.1 should be the new standard for every DeFi project in every circumstance. “Uniswap did it, so we should too” may seem tempting, but the reality is every project is different & very few are positioned as well as Uniswap.

UNI follows a bearish trend

UNI trades at $26.91 with a 12.2% correction on the 24-hour chart. In the last weeks, UNI’s losses stand at $14.8%.

Uniswap UNI
UNI with negative performance in the 24-hour chart. Source: UNIUSD Tradingview