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Uniswap

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/uniswap-uni-bounces-back-with-whale-activity-and-analytical-indicators" rel="noopener noreferrer nofollow">Uniswap (UNI) Bounces Back with Whale Activity and Analytical Indicators</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/animoca-brands-reveals-strong-financial-position-with-significant-crypto-reserves" rel="noopener noreferrer nofollow">cryptocurrency</a> Uniswap (UNI) has recently experienced a rebound in value after a significant drop over the previous week. While other cryptocurrencies were reveling in a bullish market, UNI’s value had fallen by over 7%. Nonetheless, the past 24 hours have shown a reversal in this trend, with an increase in the token’s price.</p>
<h2 id="whale-accumulation-sparks-recovery">Whale Accumulation Sparks Recovery</h2>
<p style="text-align: justify">A notable accumulation event was seen where a cryptocurrency whale purchased a substantial amount of UNI from <a href="https://en.bitcoinhaber.net/binance-ceo-discusses-companys-stance-and-future-plans" rel="noopener noreferrer nofollow">Binance</a>. The whale’s move to buy 86,467 UNI, valued at roughly $1.23 million, coincided with a positive shift in market dynamics for Uniswap. As a result, UNI’s price has climbed by over 3.5% in the last day, reaching a value of $14.32 and boosting its market capitalization to beyond $8.5 billion.</p>
<p style="text-align: justify">According to Glassnode, the upswing in UNI’s price could persist. The Network Value to Transactions (NVT) ratio for Uniswap has dropped, often a sign that the asset is undervalued and ripe for a price surge. Santiment’s analysis also reveals that UNI’s availability on exchanges is diminishing, while off-exchange holdings are growing, suggesting an increase in buying pressure.</p>
<h2 id="potential-for-increased-selling-pressure">Potential for Increased Selling Pressure</h2>
<p style="text-align: justify">However, there are indications that this bullish trend may face challenges. Data suggests that whale holders of UNI are parting with their tokens, potentially due to a predicted liquidation point at the $14.6 price level. If this liquidation occurs, it could introduce considerable selling pressure, threatening to halt the current positive momentum.</p>
<p style="text-align: justify">Analytical tools such as Bollinger Bands and the MACD are signaling a possible end to the bull rally, with the latter showing a bearish crossover. Despite this, the Money Flow Index (MFI) has been rising, often an indicator of an ongoing uptrend, providing a conflicting perspective on the future trajectory of UNI’s value.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/uniswap-uni-bounces-back-with-whale-activity-and-analytical-indicators" rel="noopener noreferrer nofollow">Uniswap (UNI) Bounces Back with Whale Activity and Analytical Indicators</a></h5>

Uniswap (UNI) Bounces Back with Whale Activity and Analytical Indicators

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