Uniswap Price Analysis: Will The Collaboration With Team Secret Increase The Retailers In UNI Token?

  • Uniswap has recently collaborated with esports group Team Secret .It helped the price to attain the new highs in the recent trading session
  • Uniswap price is currently forming a double top pattern in the daily chart. In contrast ,the UNI/BTC pair is seeing a bullish momentum on the daily chart.
Source: Trading view

UNI token price is currently trading at $28.19 with a gain of 1.85%. The price is currently seeing an uptrend. Uniswap has recently collaborated  with  the esports group Team Secret. UNI will become an official partner of  the team in exchange for $112,500.The initiatives from Uniswap  demonstrate that it is going to greater lengths to find the users. 

However, Protocols like Uniswap, in particular, have massive token treasuries which could be deployed. These partnerships will have a positive impact on the UNI token price. Uniswap is currently ranked 10th with the market capitalization of $16,000,621,870.97  . The  adjusted NVT along with the TVL has exponentially increased over time.One can deduce from the V/M ratio that there is a possibility of a neutral momentum in the Uniswap price.

What Does The Address Activity Tell About The UNI Token Price?

Source: Glassnode
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UNI price is currently trading with a double top formation on the daily chart. The activity in the address could be one of the major factors in the uptrend in price. If we look at the active addresses then we find that there is no significant major activity in it. There is also no significant growth in the new address for the coin. This tells that the retail investors are not taking the part of Uniswap growth. This defi project has remained the hub for whales for a long time. These has prevented the retailers to dive in this Defi project

The coin is trading below  50 and 100 Daily  Moving Averages.The 100 MA line is acting as a major resistance for the coin. If the price jumps above the 50 and 100 MA then one can expect a strong bullish momentum in the price. UNI/BTC pair is currently halting but can soon revert back to the bullish momentum.

Conclusion

Uniswap has recently partnered with Team Secret as a part of its marketing campaign  .UNI token price has given some great returns in the past and it can see some major gains in future. An investor should do their due diligence before investing. 

Technical Levels

Major Support:$16

Major Resistance:$40

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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