- The crash of Bitfront, may be beneficial for Uniswap.
- Its twitter game series ended today, rewarding many participants in USDC.
- The price may see a boom in the future.
The most popular DEX, Uniswap, may witness new entrants as today Bitfront announces to shut down, giving another shock to the CEX users. Holders were still recovering from the FTX crash; meanwhile, here goes another. This may cause a huge switch from CEX to DEX, and Uniswap being the most approachable, may welcome them wholeheartedly. Also, a part of its witty marketing strategy, the Twitter game ends today, where the person answering correctly was rewarded in hundreds of USDCs, on an early bird basis. Very clever yet very effective strategy, which coincidentally lined perfectly with today’s events, promising maximum returns.
The UNI price shows aspects of a future uptrend where the price could shoot up to near $10. It also penetrates the 20-EMA and surges higher in price levels. In the daily timeframe, the UNI price shows happy holders as the future holds bigger returns, with the current price reaching closer to becoming $6, which the analysts long awaited. The volume also cooperates with the current trend and flows similarly.
The CMF indicator slopes upwards, suggesting an uptrend for the UNI price. It may continue to float in the region and mark an uptrend in the future. The RSI indicator slopes up to rise to the higher ranges and touches the ceiling. The MACD indicator converges to mark the end of the bearish momentum for UNI. It may turn bullish soon for the price to surge in the future.
The future of UNI looks very bright as analysts expect a future boom. The RSI indicator reaches the ceiling to become overbought near the 70-mark and may maintain its movement in a similar range. The MACD indicator turns bullish as it displays green bars and operates above the zero base limit. All indicators accumulated display signs of a bullish future and happy returns.
The newer strategies for Uniswap are lining up well with the events occurring and proving favorable for it. It may shoot higher and outshine others in the marketplace as most of the masses will shift to DEX, and people will mend their ways of functioning in the crypto-verse.
Support levels: $4.54 and $3.45
Resistance levels: $6.73 and $7.73
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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