IS UNISWAP GOOD TO FLY? UNI CRYPTO NEXT TARGET

Uniswap (UNI) is a leading decentralized exchange (DEX) operating on the Ethereum blockchain. It employs an Automated Market Maker (AMM) model to facilitate trading without a centralized order book.

Rising Wedge usually forms after an uptrend and suggests a potential bearish reversal in the original uptrend. When price breaks the lower trend line the price is expected to trend lower. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout.

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Uniswap Crypto Price Analysis

• Latest Price: $10.99
• Market Capitalization: $6.42 billion
• 24-hour Trading Volume: $919.78 million
• Circulating Supply: 600.43 million UNI
• Maximum Supply: 1 billion UNI.

Bullish breakout from Rising Wedge pattern, above $10 key level, signals resumption of Uptrend with upside potential to $16.00. Stop loss at $9.20.

Uniswap is the biggest DEX, and has been a beneficiary of the move to decentralized exchanges and non-custody trading solutions.

Weekly Price Analysis

UNI’s price remained relatively stable this past week, with slight fluctuations driven by market sentiment and trading volume. While maintaining support levels around $10.90, the token saw resistance at $11.20, reflecting a balanced interest from buyers and sellers.

Trend: Short-term trend is Strong Up, Medium-term trend is Strong Up, Long-term trend is Strong Up.

Momentum is Bullish ( MACD Line crossed above MACD Signal Line) ABOVE days ago. Price is neither overbought nor oversold currently.

Support and Resistance: Nearest Support Zone is $10.00, then $8.35. Nearest Resistance Zone is $12.00, then $16.00.

Technical Indicators

1. Relative Strength Index (RSI): Neutral, indicating no strong trend.
2. Moving Averages (MA): Short-term MA suggests a bullish crossover, indicating potential upward momentum.
3. Volume Trends: A steady increase in trading volume.

News Roundup

1. DAO Governance: Uniswap’s decentralized governance continues to evolve, with over 310,000 members participating in its decision-making processes. This active DAO manages a treasury of $1.6 billion.
2. NFT Integration: Uniswap recently acquired NFT aggregator Genie, signaling its expansion into NFT trading.
3. Market Presence: Uniswap remains the most dominant Ethereum-based DEX by volume.

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