Uniswap Price Watch: UNI Registers 16% Rally In Last 7 Days

Uniswap (UNI) token holders have plenty of reasons to celebrate now.

  • Uniswap is among the top gainers among cryptocurrencies, registering a 16.2% price increase over the past week
  • The token is now on a falling channel pattern but is expected to make a bullish run
  • Lowest possible support price for Uniswap is $4.8

The digital asset is one of the biggest gainers not only for the last 24 hours, but for the past seven days.

As of this writing, tracking from CoinGecko shows the token is trading at $6.37, enjoying a 12.5% gain in value since same time yesterday and a 16.2% increase for the past week.

Unlike the rest of the crypto pack, the Uniswap token seems to be keeping its head above water during this period of uncertainty and volatility for the digital assets space.

This seems a rather odd development, considering the token was stuck in a steady decline during the past five weeks.

It also makes it a bit difficult to assess whether or not the crypto is under any kind of pressure.

Some experts feel it is.

Uniswap On A Falling Channel Pattern

The five weeks that was mentioned earlier when Uniswap token was on a decline isn’t just a simple “period of red” for the crypto.

It was a falling channel pattern which is characterized by a bullish rally following the breaking of the overhead trend line.

Related Reading: Polkadot Price Watch: What A Drop In This Key Area Can Mean For DOT?

Uniswap Price Watch: UNI Registers 16% Rally In Last 7 Days
Source: TradingView

While the token is enjoying significant gains with its current trading price, there is no clear guarantee that the anticipated bullish trend is already happening.

What is clear though is that 70% of all the gains the Uniswap token have made during its last recovery rally was obliterated by the recent crypto market correction.

It has put the cryptocurrency in a position where local support price stood at $5.27.

Related Reading: Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days

Where Is Uniswap Token Headed?

As of this writing, data indicate that Uniswap token’s hourly trading is on a small range. If the trend continues, there could be strong movement on its price on the coming days.

The crypto’s support range could consolidate at $5.00 to $4.8 while its resistance level could be seen to be from $6.9 to $8.1.

In crypto space, “support” refers to the level at which an asset’s price stops falling. “Resistance” refers to the range when an assets price stops increasing.

It is important to note that while a bullish rally can easily put Uniswap trading price to the $7 mark, the token is also at risk of hitting a price range below $5.

With that, it is now a waiting game for interested buyers who should keep a sharp eye for the pattern breakout.

UNI total market cap at $4.9 billion on the daily chart | Source: TradingView.com Featured image from Cointribune, Chart: TradingView.com

NEWS RELATED

USDC Issuer Circle Changes Mind on Going Public, CEO Reveals Q3 Earnings

Jeremy Allaire. Source: a video screenshot, YouTube, IMF Circle, the US financial services firm behind the stablecoin USDC, has changed its mind about seeking a public listing in the near future, and now says it will stay focused on building “a long-term public company.” The plan to go public ...

View more: USDC Issuer Circle Changes Mind on Going Public, CEO Reveals Q3 Earnings

Paraguay Lawmakers Shelve Hotly Debated 'Crypto Law'

The South American nation was set to become a Bitcoin mining paradise—but lawmakers have pumped the brakes.

View more: Paraguay Lawmakers Shelve Hotly Debated 'Crypto Law'

FTX’s Sam Bankman-Fried Was a ‘Master Manipulator,’ Says Binance CEO CZ

“No healthy business can be destroyed by a tweet,” Changpeng Zhao says to accusations that he caused the FTX collapse.

View more: FTX’s Sam Bankman-Fried Was a ‘Master Manipulator,’ Says Binance CEO CZ

Bankruptcy Judge Approves Subpoenas for Three Arrows Co-Founders

Liquidators can now subpoena “any recorded information, including books, documents, records, and papers” related to the hedge fund since 2012.

View more: Bankruptcy Judge Approves Subpoenas for Three Arrows Co-Founders

Microsoft: Hackers target cryptocurrency firms over Telegram

Microsoft says that cryptocurrency investment companies have been targeted by a threat group it tracks as DEV-0139 via Telegram groups used to communicate with the firms’ VIP customers. “Microsoft recently investigated an attack where the threat actor, tracked as DEV-0139, took advantage of Telegram chat groups to target cryptocurrency ...

View more: Microsoft: Hackers target cryptocurrency firms over Telegram

Crypto Whales are Adding These Altcoins to Their Portfolios Before the Next Bull Market – Find Out Why

After yesterday’s market drop, stocks continued to tumble today. As for Bitcoin and other cryptocurrencies, they remained flat in the morning but have started seeing some slight losses later in the day. Despite these recent losses, cryptos are still up from where they were a week ago. Although the ...

View more: Crypto Whales are Adding These Altcoins to Their Portfolios Before the Next Bull Market – Find Out Why

Dash 2 Trade Raises $8.78m as ICO Buying FOMO Takes Off, Only 33% of Tokens Left

London, England, Tuesday 6th December 2022 – Professional crypto trading platform Dash 2 Trade has raised an impressive $8,785,000 in less than two months as investors rush to buy.  The performance is even more startling given that the fundraise is accelerating towards its hard cap target of $13,420,000 against the ...

View more: Dash 2 Trade Raises $8.78m as ICO Buying FOMO Takes Off, Only 33% of Tokens Left

Best Cryptos to Buy 6 December – D2T, SNX, IMPT, CRO, TARO

The cryptocurrency market has been mostly stagnant today, while Bitcoin is fluctuating around the $17,000 mark yet again and traders are unsure of Bitcoin’s or the wider market’s next move. Meanwhile, in a positive step for cryptocurrencies breaking further into the mainstream, Goldman Sachs is reportedly looking to buy ...

View more: Best Cryptos to Buy 6 December – D2T, SNX, IMPT, CRO, TARO

Goldman’s David Solomon on hunt for bargain crypto firms after FTX fiasco

CNBC’s Jim Cramer tells investors to abandon crypto: ‘It’s never too late to sell’

Crypto Gaming's Next Big Thing: Play to Earn with Calvaria – Only 28% of Tokens Left

Dogecoin Price Prediction as $800 Million Trading Volume Comes In – $1 by 2023?

UMA Crypto Price Prediction - IMPT Token Stronger Alternative?

Making Cryptocurrencies More Sustainable: Follow Ethereum’s Lead

Warner Music Group to Release Polygon Music NFTs Through LGND Platform

Today in Crypto: Goldman Sachs Reportedly to Spend Millions on Crypto Companies, US FTC Investigating Crypto Firms, ConsenSys Releases Data Collection Update

Never Tried the Metaverse? This New Crypto May Be the Place to Start – Here's Why

Axie Infinity Price Prediction as AXS Surges 30% in 7 Days – Here’s Where It’s Headed Next

ConsenSys Updates Privacy Policy for MetaMask, Infura After Community Pushback

Bitcoin Price Prediction – Can $BTC Fall to $10,000? Find Out Here

OTHER NEWS

Breaking thailand news, thai news, thailand news Verified News Story Network