Uniswap

Million

Read

Coin

<ul class="list-ic vertical">
 <li>1 <a>Recent hints of a big announcement from Uniswap have led to increased hype and accumulation by smart money.</a></li>
 <li>2 <a>It has seen significant increases in market cap and trading volume, with good liquidity in the market.&nbsp;</a></li>
</ul>
Uniswap is a DEX protocol that allows users to trade securely without needing intermediaries to trade ETH-based tokens from their wallets. Recently, the UNI price has embarked on an upward journey, followed by a period of stability at around $9.25.
Uniswap has optimized by 18.77% in the market cap and made massive gains of 443.65% in trading volume in the last 24 hours, as per CoinMarketCap.&nbsp;
Meanwhile, its market cap value was $6.777 Billion, and its trading volume was $858,091 Million at the time of writing. There are 599.957 Million UNI tokens in circulation, and the volume/market cap ratio is 12.65%, which shows good liquidity present in the UNI market.
The Uniswap (UNI) derivatives open interest is $167.11 Million. As per CoinGlass, it rose by +68.41% in the previous session. The long-versus-short ratio for 24 hours is 1.0101. The short liquidation is $971.82 K, versus $640.53 K for the long liquidation.
Uniswap has performed well in the last month, increasing by 48.46%. Besides, it has a positive year-to-date return of 56.10% and a positive one-year return of 138.23%.
<h2 class="wp-block-heading" id="strong-uniswap-uni-coin-price-technical-analysis-in-a-1-day-timeframe-strong">Uniswap (UNI) Coin Price Technical Analysis in a 1-Day Timeframe</h2>
The BuRRow, an analyst, noted that the <a href="https://www.thecoinrepublic.com/2024/03/02/uniswap-uni-price-prediction-are-bulls-eyeing-the-15-mark/" target="_blank" rel="noopener noreferrer nofollow">Uniswap (UNI) price </a>has reached a key level, and the pump-in price was around 20% in the last 24 hours. He further stated that two times from this level, the price was dumped, and it was the third time.&nbsp;
<center>
 <blockquote class="twitter-tweet">
 <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$UNI</a> look at that <a href="https://twitter.com/hashtag/pump?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#pump</a>. We read the chart perfectly there for <a href="https://twitter.com/hashtag/UNI?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#UNI</a>. What’s next? Another rejection or a break this time? <a href="https://twitter.com/hashtag/uniswap?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#uniswap</a> <a href="https://t.co/4lnLdfGiEb" rel="noopener noreferrer nofollow">https://t.co/4lnLdfGiEb</a> <a href="https://t.co/U3QPPYwwnz" rel="noopener noreferrer nofollow">pic.twitter.com/U3QPPYwwnz</a>— The BuRRow (@theburrow88) <a href="https://twitter.com/theburrow88/status/1798092508280344778?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 4, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center>
If the price manages to break out of this hurdle on the daily chart, it could lead its price to run towards a higher level. However, if the history repeats itself, the price dump could also be massive.
According to a recent tweet by an analyst, it was observed that on the daily chart of UNI, there has been a surge from the $9.27 support level, which currently remains above both the 20-day and 50-day EMAs.
Correspondingly, the MACD indicator also exhibits a bullish crossover, with a rising histogram at 0.034 for UNI, and the RSI flashed above a median line at 63.55. These indicators suggest that it is gaining pace and could potentially enter an upward trajectory as all major tools are displaying a positive attitude toward the UNI price. 
<a href="https://in.tradingview.com/chart/UNIUSD/58whN39b-he-MACD-indicator-also-exhibits-a-bullish/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a> 
If a strong breakout occurs, the next target for the price of UNI could be at levels such as $13.25 and $15.55. On the other hand, if the price declines and fails to maintain its position above the $9.27 level, it may experience further decline.
<h3 class="wp-block-heading" id="strong-smart-whale-behaviour-recent-announcement-hype-strong">Smart Whale Behaviour &amp; Recent Announcement Hype</h3>
As per the @icryptoAI post on X, in the past session, Uniswap hinted that there would be big news soon. Their official statement optimized the hype in the crypto landscape, which led to UNI’s heavy accumulation by smart money. This hype caused a spike in the price, and volume blasted massively in the last intraday session.
<center>
 <blockquote class="twitter-tweet">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f60a.png" alt="😊" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Uniswap?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Uniswap</a> Reveals New Announcement – <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$UNI</a> to the Moon? <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f44b.png" alt="👋" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;"> Read the analysis of <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$UNI</a> here <a href="https://t.co/8VtltwOn7T" rel="noopener noreferrer nofollow">https://t.co/8VtltwOn7T</a> In the past 12 hours, Uniswap has hinted that it will soon have big news. Could this be the announcement of the launch of Uniswap version 4 or another BIG… <a href="https://t.co/B3nF8Zl2Ky" rel="noopener noreferrer nofollow">pic.twitter.com/B3nF8Zl2Ky</a>— iCrypto | Sentiment &amp; On-chain Analysis (@iCryptoAI) <a href="https://twitter.com/iCryptoAI/status/1798218073369121222?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 5, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center>
Smartdex traders’ active behavior has recorded large buy orders of around $1.1 Million in UNI crypto; the wallet 0x86d9 had a 53.85% win rate and stated that this address had an impressive trading history. This wallet address holds 12.27K UNI tokens worth $139.96 K, according to iCryptoAI.&nbsp;
<h3 class="wp-block-heading" id="strong-summary-strong">Summary</h3>
The UNI price has recently shown an upward trend, with a period of stability around $9.25. With good liquidity, it has seen significant market cap and trading volume increases.&nbsp;
UNI derivatives open interest is $167.11 million, showing positive returns in the last month and year. Technical analysis indicates potential for a higher-level price breakout, with strong support at $9.27.
<h4 class="wp-block-heading">Disclaimer</h4>
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.

Can Uniswap Price Gain 50% Amid the Upcoming Announcement?

Table of Contents

Thecoinrepublic.com

Other articles published on Jun 5, 2024

Bitpanda Partners with Deutsche Bank for Real-Time Payment Services

Crypto Case Fiasco Leads To Complete Shutdown Of SEC Office In This City

Shiba Inu's Price Increased More Than 6% Within 24 hours

TeraWulf Achieves Significant Milestones in May 2024 Bitcoin Mining Update

Bittensor’s First-Ever Subnet Merger Will Help Develop Commercial, Enterprise-Grade Decentralized...

JasmyCoin Price Analysis: What’s the Next Target of JASMY Crypto?

Join our free newsletter for daily crypto updates!