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- 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.
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?
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
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
