Uniswap’s UNI Token Could Rocket Past $6.00 as Bulls Defend Crucial Support

2020-9-25 02:00

UNI – the governance token of the Uniswap platform – has been seeing some immense turbulence in the time since its launch. The hype surrounding the token – which was airdropped to all of Uniswap’s users – sent the price of the cryptocurrency rallying up to highs of $8.50.

The token lost its momentum once it reached these highs and dipped down towards lows of $3.75.

In the time since this rejection and selloff, bulls have stabilized its price around $5.00, with buyers not gaining further control over its near-term price action.

While speaking about its near-term outlook, one analyst explained that the cryptocurrency must continue holding above $4.475, as this could allow it to see further gains in the days and weeks ahead.

As for how high it could rally in the near-term, he explained that the $6.00 region is his next target.

There is some resistance at this point, so this may be where its uptrend loses steam.

Uniswap’s Token Rebounds From Recent Lows

At the time of writing, Uniswap’s UNI token is trading up 14% at its current price of $5.02. This is around the price at which it has been trading throughout the morning hours.

The cryptocurrency dipped below $4.00 earlier this week after facing a massive inflow of selling pressure. This caused its price to plunge down to $3.75, which is around where it formed a strong base of support and rallied higher.

UNI does appear to be facing some resistance at $5.50, as each visit to this price level has resulted in it seeing intense sell-side pressure that halts its growth.

Analyst: UNI May Rally Towards $6.00 Before Finding Resistance

In the near-term, bulls must continue guarding against a decline below the mid-$4.00 region.

One analyst explained that a continued bout of trading above this region could be all that Uniswap’s UNI needs to rally up to $6.00.

“Uniswap: Nice, I like that bounce from the area I’ve tweeted yesterday. Now hold above $4.425-4.475 and we’ll be likely seeing $6.”

Image Courtesy of Crypto Michael. Chart via TradingView.

The aggregated market may also have some influence over UNI’s near-term outlook, as well as any potential developments regarding the supposedly imminent release of Uniswap V3.

So long as Bitcoin and the rest of the major digital assets remain strong, UNI may be able to extend its momentum further.

Featured image from Unsplash. Charts from TradingView.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Waves Community Token (WCT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 1.05 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0997143 (-100%)

token uniswap uni all users hype surrounding

token uniswap → Результатов: 109


Запуск токена UNI позволил ETH-майнерам заработать $1 млн на комиссиях всего за час

Майнеры Ethereum сегодня обновили недавний рекорд по заработку на комиссиях в течение одного часа. Согласно Glassnode, их доход от комиссий достиг $938 000 после начала раздачи токенов Uniswap. Following @UniswapProtocol's announcement of the $UNI token today, #Ethereum saw a massive surge in miner fees.

2020-9-17 16:55


Uniswap выпустила токен управления UNI

Ведущая децентрализованная биржа (DEX) Uniswap выпустила токен управления UNI. Он почти сразу же оказался в листинге биржи Binance.   We’re thrilled to announce that UNI, the Uniswap Protocol governance token, is live now on Ethereum mainet! Read more:https://t.

2020-9-17 09:11


Фото:

SushiSwap DeFi ‘Vampire’ Sucks $1 Billion From Uniswap

The Uniswap fork known as SushiSwap has successfully migrated to its own protocol and drained over a billion dollars from the token swapping platform it spawned from in the process. Is this the new normal for proceedings in the DeFi sector? The much-hyped SushiSwap platform has pulled off its protocol migration, successfully draining Uniswap of […] The post SushiSwap DeFi ‘Vampire’ Sucks $1 Billion From Uniswap appeared first on BeInCrypto.

2020-9-10 12:20


Popular DEX Uniswap Beats Coinbase for the Second Time in a Row, Overthrows Other Top CEXs

The popular DeFi protocol Uniswap is reaching towards becoming the fourth largest DeFi project to hit the $1 billion mark. Given that the fully decentralized on-chain protocol for a token exchange on Ethereum has seen a growth of 225% in the past less than five days, it won’t be long before it enters the billion-dollar […] The post Popular DEX Uniswap Beats Coinbase for the Second Time in a Row, Overthrows Other Top CEXs first appeared on BitcoinExchangeGuide.

2020-8-31 18:03


Uniswap представила новую систему листинга токенов

Крупнейшая некастодиальная криптобиржа Uniswap представила новую систему листинга, направленную на борьбу с поддельными токенами. 🦄We are excited to announce Token Lists, a new standard for creating lists of ERC20 tokens.

2020-8-27 11:09


Uniswap Listed NUGS and NEXE Token Projects Exit Scammed Soon After Listing

Two token projects, namely Nugs.space (NUGS) and Nexeum Protocol (NEXE), which were recently listed on popular DEX platform Uniswap, seem to have exit scammed soon after their listings. After the news broke out about a possible exit scam, NUGS token project in their official Telegram group, claimed that their smart contract system encountered a bug […]

2020-8-13 21:07