Uniswap

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>The UNI price seems to be trying to harness more bull strength on the chart.</a></li>
 <li><span>2</span> <a>The UNI coin could blast through the barrier and skyrocket to new levels from the current price.</a></li>
</ul>
<p>Uniswap is a protocol that works differently from traditional exchanges, which uses order books to match buyers and sellers. Instead, Uniswap uses a new method called AMM (automated market maker), which allows anyone to deposit tokens and create liquidity pools for trading. From this, the users could earn fees from their deposits and the system ensures there is enough liquidity for trades to occur.<br><br>Moreover, UNI is the token that grants strength to the Uniswap community. It lets token holders have a say in how the protocol is run and improved over time, such as voting on proposals or suggesting new features. The token holders can also benefit from various programs that reward them for providing liquidity, sharing fees, or other incentives depending on the choices of the community.</p>
<p>The UNI token was launched in September 2020 by the Uniswap team led by the founder Hayden James. It came into existence to make Uniswap more decentralized and driven by the community.</p>
<p>The UNI crypto optimized by 2.75 % in market value but fell by 25.08% in trading volume in the last 24 hours, as per Coinmarketcap which is a crypto data and info website. Its market value is $3,071,213,899 and its trading volume is $84,813,102. There are 588,187,016 UNI in circulation.</p>
<p>The Uniswap (UNI) open interest is $69.16 Million, as per Coinglass, which is a crypto analysis website. It rose by 0.53% in the previous session. The long versus short ratio for 24 hours is 0.9275. The total number of short positions added in the last 24 hours is $141.73K against longs of $14.89K.</p>
<p>Furthermore, the UNI/BTC current market price is $5.2237 with an intraday loss of 0.37% and UNI/USD has a CMP price of $0.1701 with an intraday fall of -0.67%.</p>
<h2 class="wp-block-heading" id="strong-let-s-analyze-what-uni-usd-and-uni-btc-pairs-have-in-mind-strong"><strong>Let’s Analyze, What UNI/USD And UNI/BTC Pairs Have In Mind.</strong></h2>
<p>The Uniswap is showing a bearish trend with lower highs and lower lows, forming a channel between the support and resistance lines. The price bounced back several times, but could not break the resistance level. The price was squeezed in a narrowing range in both UNI/USD and UNI/BTC pairs.</p>
<p>The prices of both pairs are struggling to stay near the trendline resistance, which is a key obstacle for the UNI. The price needs more buying pressure to overcome this challenge, otherwise, the UNI prices will continue to decline.</p>
<p>On analyzing the chart on a daily time frame, the price of the&nbsp; UNI/USD pair rose by 2.17% since the start of the year and 10.56% in three months. The price is trading under a tightened range, and it needs a spike with momentum to break out of it.</p>
<p>The UNI/USD could start a huge rally if it breaks the $5.50 level, which is close to the resistance trendline. It could lead to new highs in the future. The UNI/USD seems to have more buyers accumulating, which could give it more strength and help it overcome the resistance level and soar to new levels from the current price. On the contrary, if it fails and slips, then it could decline to $4.50.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/3ZjJ8aas2RuhJwQLqcvqyhJB88tBY6PEYJjzvZPraE0wUAv72gP6lMtBxlS1EgcgsOS_wQZD4iQKCebsZZEQm6e92AlgUoXQAnpq2LPrBgGKV1RpRNqfYgtQWEuLHENa0ElFjYLk7ndtXyCYUCVePjBqXlZr2be_YwRmf7fW3KOaGWMPT5ouB_EKUbBgrg" alt="Can Uniswap Price (UNI) Harness Buyers' Strength &amp; Blast Upward?">
  <figcaption class="wp-element-caption">
   Source: UNI/USD.1.D. BITFINEX by TradingView
  </figcaption>
 </figure>
</div>
<p>Furthermore, The UNI/BTC pair has been more bearish than the UNI/USD pair, with a 54.82% drop since the beginning of the year on a daily chart and a 22.64% drop in the last three months.</p>
<p>The price of UNI/BTC has been moving in a narrow range with lower highs and lows, forming a parallel channel. The price is currently facing strong resistance at $0.000150, which is near the resistance trendline. If the UNI/BTC price can break this level, it could trigger a massive rally and reach new highs in the future.&nbsp;</p>
<p>The UNI/BTC seems to be trying to harness more bull strength on the chart. It could give it more strength and help to blast through the barrier and skyrocket to new levels from the current price. However, if the price fails to break the barrier and slips below, it could drop to $0.00100.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/-7ioQApcB-HC5T7ftDt7I5hxh55-0QrY4JP-y0uKVPSBep1VdP69fz_zk_UqFHzXrONwUiPj_Cl6uwPGsjzEwdutz1keu0LSUYMKxQJp2mfIdlJScp5TmvmpHPQ2bha3Y2D-au3nTfsZbvXAIAMvMunf3VFX_Iw-oJXavcwkzFBIMJTAc2ieXxO6P8RGCw" alt="Can Uniswap Price (UNI) Harness Buyers' Strength &amp; Blast Upward?">
  <figcaption class="wp-element-caption">
   Source: UNI/BTC.1.D. BITFINEX by TradingView
  </figcaption>
 </figure>
</div>
<p>UNI/USD is currently trading above the major exponential moving averages, which are supporting the price momentum. However, in UNI/BTC the price shows bearish strength as it is below 50, 100, and 200-day EMA and only above 20-day EMA.</p>
<p>If more buyers enter the market, the UNI price pairs could increase more by creating higher highs and new highs. Therefore, the UNI price pairs are likely to move upward and show a bullish outlook on the daily chart.</p>
<h3 class="wp-block-heading" id="strong-what-does-uniswap-s-social-dominance-and-amount-of-holders-highlights-against-the-uni-price-strong"><strong>What Does Uniswap’s Social Dominance and Amount Of Holders, Highlights Against The UNI Price?</strong></h3>
<p>This chart displays the daily active addresses of Uniswap in the form of the total amount of holders, which is the number of unique addresses that interacted with the protocol. It shows how popular, active, and in-demand the protocol is among users. The following chart spans from June 2022 to November 20, 2023. It shows a good amount of holders at the time of publishing.</p>
<p><a href="https://www.thecoinrepublic.com/2023/11/02/uniswap-price-prediction-2024-2026-is-20-possible-by-2025-end/" rel="noopener noreferrer nofollow">Uniswap’s </a>social dominance reflects how much it is talked about, valued, and sought after by the crypto community. The chart shows that social dominance has been stable for the last four months. However, a surge in social dominance could also boost the price of the UNI, as more people would be interested in buying and holding it.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/SSo5iB_hD7kI8RZwYBwZ8GYoiZPsBZYwfPoYCSLtwPBrNaa7mN-Yj8LKqqtthzbRIzpLXwgcrp1Tg5YFkXnBh_of6jj6Q9htg8X3CIkfZtlCG-7C2_QsT6FE6YU6ozvqu8qxipMw_iqICOjFwxrWYgtznZTacp0RQRHyGlrxjft6z8uO41bHWFWOnLt1SA" alt="Can Uniswap Price (UNI) Harness Buyers' Strength &amp; Blast Upward?">
  <figcaption class="wp-element-caption">
   Source: By Santiment.com
  </figcaption>
 </figure>
</div>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The chart shows a good amount of holders at the time of publishing. Moreover, the chart also shows that social dominance has been stable for the last four months. However, a surge in social dominance could also boost the price of the UNI, as more people would be interested in buying and holding it.</p>
<p>Furthermore, the price movement shows that it was squeezed into a narrowing range in both UNI/USD and UNI/BTC pairs. The prices of both pairs are struggling to stay near the trendline resistance, which is a key obstacle for the UNI. The price needs more buying pressure to overcome this challenge, otherwise, the UNI prices will continue to decline.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels</strong>: $4.5</p>
<p><strong>Resistance Levels</strong>: $5.5</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

Can Uniswap Price (UNI) Harness Buyers’ Strength & Blast Upward?

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Thecoinrepublic.com

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